We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
 With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of 0.5% sulphur content does not yet exist physically nor financially. Thus, there is technical and financial planning to be involved and as reported the current global crude streams enable the production of about 15mill bl/d of final 0.5% sulphur content marine fuel if refineries maximize output. The market is currently using Gasoil 0.1% sulphur content price as a proxy for the upcoming 0.5%S MFO. Accordingly, it is estimated that between 2020 and 2022 it will trade at USD 90/ton discount to the Gasoil 0.1% price. Later, it is projected that the 0.5% MFO price will settle closer to the HFO 3.5% price, at a USD 90/ton premium to HFO 3.5%.
As seen, many ship-owners have rushed to order scrubbers and as reported in 2020 there will be more than 1600 scrubbers installed and on order. It is projected that between 2021 and 2022 demand will be much higher always subject to the order books. As discussed in 2020, the global bunker oil consumption will be mainly MFO of 0.5% sulphur content and almost 95% of vessels will not have scrubbers fitted. Unavoidably, in order for refineries to produce MFO of 0.5% sulphur content there will be a great availability of HFO 3.5% fuel. This is because high sulphur residue fuel is a by product in the production of MFO 0.5%. Rationally HFO 3.5% will be available in larger ports and most probably will be utilized by container vessels in certain routes or product carriers that will trade between refineries. Therefore, for these routes and specific trade, scrubber installation will certainly advance. In general, it is forecasted that more than 2.0m bl/d of HFO 3.5% surplus will be produced in 2020 and the question remains where and how this amount of fuel will be stored. The increased inventory will lead to HFO 3.5% prices being low for some time until the supply/demand balances and thus prices will be restored in the later years.
Furthermore, as the new fuel is yet unknown there is a discussion by ship-owners whether blending MFO 0.5% from various suppliers will be stable and not likely to damage engines. Overall, most shippers are installing scrubbers to part of their fleet to build up step by step knowledge. Scrubber installation has led many to believe that “early movers will make a scrubber profit” while “late movers will make a scrubber saving”. Last but not least, many ship-owners that have their vessels on long time charters have considered the option to include a clause in their charter parties, for Charterers requesting a scrubber vessel, to pay for it through hire agreement.
The next couple of years will not be short of interesting developments for sure. The second half of 2019 and closer to 2020 will lead to more confident conclusions towards the MFO 0.5%, Gasoil 0.1% and HFO 3.5% price spreads with the maritime industry’s bunker fuel shift. It is expected that concerns related to volatility of the MFO 0.5% product will progressively dissolve as more users will be able to test it during 2019 leading to the understanding that it will not be a gasoil-based product but instead a fuel-based bunker. Finally, it is expected that scrubber installation for bigger vessels will be hurried while for fleets with smaller vessels it will take longer. The main question to be answered is whether scrubber installation will generate profits or just savings.
By Katerina Resti
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
|
|
|
Showing 1436 to 1440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Sojitz Corporation - Japan
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
|
| |
| |
|
