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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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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Australian Coal Association
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
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