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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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- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Deloitte Consulting - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- MS Steel International - UAE
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
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