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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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Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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Showing 1626 to 1630 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
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