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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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Showing 1526 to 1530 news of total 6871 |
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- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
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