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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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Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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Showing 1521 to 1525 news of total 6871 |
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- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Minerals Council of Australia
- The University of Queensland
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
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