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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, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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Showing 1601 to 1605 news of total 6871 |
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- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- GMR Energy Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
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