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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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Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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Showing 1561 to 1565 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
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