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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
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