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.
|
|
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
|
|
|
Showing 1471 to 1475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- The University of Queensland
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
|
| |
| |
|
