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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, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
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