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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, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
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