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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- PTC India Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
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