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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
 A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of scrubbers and the benefits of alternative fuel usage. Aside from all of these, there is another reading to this new regulation. New oil products (ultra-low sulphur fuel oil) as well as the much larger quantities of MGO that will be needed from the shipping industry will reshape trade patterns around the globe. The first effect could well be depicted in crude oil trade due to shifts in refinery utilization, said Yiannis Vamvakas, Research Analyst of Allied Shipping in Allied latest weekly research report.
Specifically, demand for light sweet crude oil will move upward as it will be required from the non-upgraded refineries, while it is possible to see a negative trend in the demand for heavy sour grades. The second part is the need for redistribution of the low-sulphur fuels, in order to properly cover the global bunkering markets.
Yiannis Vamvakas further noted that, a side-effect to this could well be the requirement for floating storage for both clean (building of inventories), as well as dirty products (storage of the excess heavy fuel oil produced). Demand for HSFO is projected to recover in the long-term, as scrubber-equipped ships will continue using it. However, given that the IMO expects around 3,800 vessels to be fitted with scrubbers by 2020, it looks as though these vessels will remain a relatively small percentage of the global fleet. Many refineries have proceeded with their investment plans, adding capacity in order to produce more middle distillates, with the International Energy Agency (IEA) forecasting that an additional 7 million barrels per day will come into production by 2023.
However, Yiannis Vamvakas says, there are also several refineries that have not yet fully prepared for the IMO 2020 regulation, possible creating a shortfall of the required fuels in certain regions. All in all, the most modernized refineries with extensive vacuum resid processing capacity will benefit most from the new regulation, as they will be able to produce larger quantities of required fuels, gaining market share in the marine sector. Based on these facts, demand will increase in regions were the more modern refineries reside, modifying current trade routes. According to a Reuters survey, around 66% of 33 questioned refineries will continue produce HSFO in 2020, but 70% of these stated that they will reduce their output. A decline has already been reported in fuel oil inventories, depicting the fact that refineries have started to cut output in anticipation of the regulation. However, it’s worth mentioning that if output cuts prove to be bigger than the consumption fall, prices will see a significant upsurge. With regards to different geographical locations, most of the US refineries have been upgraded by the US shale boom, giving them a head start, but they are still dependent on heavy fuel imports, which is used for blending purposes. This means that further investments will be required for adding de-sulphurisation capacity.
In Europe, the report says, the coastal refineries are better prepared compared to their mainland peers, as their main oil source is crude from North and West Africa, regions with less sour oil. In Middle East and China, most of the refineries do not have the capacity of de-sulphurisation needed to produce the new low-sulphur fuels, making new investments necessary. In almost all cases a significant change is to take place in the shipping industry.
This change can be seen as a threat, an opportunity or as a combination of these two. The modification of crude oil/oil products trade flows should benefit owners and refineries that are flexible and adaptable enough for the new regulations, while it may be a significant threat for market participants that will choose to fall behind their competition Yiannis Vamvakas concluded in his latest report.
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Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Romanian Commodities Exchange
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
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