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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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Showing 1531 to 1535 news of total 6871 |
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- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
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