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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Parliament of New Zealand
- VISA Power Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- White Energy Company Limited
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
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