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Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
 With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate the IMO 2020 regulations. As the implementation date for the 0.5% sulphur cap approaches, the U.S. EIA expects that the swing in petroleum product pricing will be most acute in 2020 and the effects on prices will be moderate after that. However, the regulations will inevitably affect petroleum supply, demand, and trade flows on a long-term basis while shipowners, operators and charterers around the world are carefully preparing marine fuel supplies ahead.
As already extensively analysed operators of vessels have a few options, from switching to a lower-sulphur fuel or installing scrubbers to even switching to nonpetroleum-based fuels, such as liquefied natural gas (LNG). To enable a prosperous transition the industry demands increased on-board operational expertise and detailed product knowledge both on the supplying and the receiving vessel. Originally MGO was declared the primary winner since most of the bunker products did not met the sulphur content limit of 0.5%. However, with less than two months ahead of the implementation, it seems that the scale of the MGO demand swipe will not be as great as expected. In its place, very-low sulfur fuel oil (VLSFO) has been developed as a dark horse to challenge MGO as a stand-in for high-sulfur fuel oil, with a 3.5% sulfur limit, when the switch is activated.
VLSFO is already available in various locations across Asia, Middle East, Africa and the Americas as of mid-October, while it will be made available to additional ports during November and December. Even though demand up until recently has not been as high we are now seeing both supply and demand rapidly increasing. During the first half of October, supply of VLSFO surpassed demand in many areas and as argued by suppliers, this is because ship-owners that initially wanted to start bunkering VLSFO postponed their purchases for November and December. The market disturbance caused by the transition to IMO 2020 is apparent as the supply side of HSFO has begun running down stocks. Furthermore, tank barges that have been stowing HSFO are being taken out of service to be cleaned and get readied for VLSFO or MGO. Concurrently, suppliers and traders are reluctant to substitute HSFO stocks as they anticipate rapidly declining demand towards the end of 2019. This reduced supply capacity comes at a time when shipping still needs fuel, and the vast majority of bunker demand is still for HSFO.
To conclude, the transition to the 0.50% sulphur limit will cause disruption and more volatility than usual for a while but the market will eventually adapt as it always does. Worldwide, the shipping industry was primarily sceptical about the quality of VLSFO, but as 2020 approaches confidence for VLSFO grows among market members. Operators are projected to lean towards the lower cost option that will replace the 3.6 million barrels per day of HSFO that the shipping industry currently consumes. There is still speculation rather than solid fact about the price differential between high sulphur fuel and VLSFO price in the beginning of 2020, with some analysts predicting a potential range of $40-$200 between the two grades.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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.
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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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Showing 1226 to 1230 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Videocon Industries ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
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