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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, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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Showing 1536 to 1540 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Mercator Lines Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
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