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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, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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