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