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