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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, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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Showing 1631 to 1635 news of total 6871 |
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- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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