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Thursday, 24 December 15
GLOBAL MARINE FUEL REGULATIONS COULD SHOCK REFINING AND OIL MARKETS - OPEC | HELLENIC SHIPPING NEWS
 IMO regulations call for global standards for sulphur content in marine fuel to be tightened to 0.5% from its present 3.5%. There is uncertainty over this regulation, however, because there is the possibility that the implementation date could be dropped back from 2020 to 2025, and because it allows for the use of on-board exhaust gas scrubbers with high sulphur fuel as an alternative compliance mechanism. The uncertainty of the timing is a deterrent to both shippers and refiners to invest in facilities, either to scrub fuel or to convert high sulphur supplies to low sulphur. Also, as of today, on-board scrubbers remain at the testing stage and there are doubts over whether, and when, they will prove successful and be adopted en masse.
With scrubber penetration in 2020 now considered by many observers as likely to be low, the volume of high sulphur and mainly heavy marine fuel that would need to be converted to 0.5% sulphur marine distillate or other formulations could lie in the range of 2 mb/d to more than 3 mb/d. This requirement would be on top of the incremental volume and quality demands relating to diesel/gasoil, jet fuel/kerosene and other fuels.
The IMO intends to issue a recommendation on timing of implementation – whether 2020 or 2025 – by late 2016. However, if the date remains at 2020, this will leave only limited time for refiners to make what could ultimately be substantial investments and/or for scrubbers to be retro-fitted to thousands of ships. A risk is emerging that the implementation of the rule could lead to a period of strained refining markets with substantial price premiums versus crude oil for low sulphur distillate and residual fuels and severe discounts for high sulphur fuels. The impacts would not be limited to marine fuels, but would spread across all sectors and world regions. Complex refineries, especially those oriented to distillates, would potentially benefit but simpler refineries, especially those processing higher sulphur crude oils, would be adversely impacted, with possible implications for closures.
Long-term capacity requirements are ‘frontloaded’; the pace of needed refinery capacity additions inexorably slows Although the pace of refinery projects has slowed in the aftermath of the recent crude oil price drop, the 8.3 mb/d of projected total additions by 2020 (which comprise 7.1 mb/d of firm assessed projects plus model-based ‘creep’ and limited additions beyond projects) still represent over 40% of the 20 mb/d cumulative total additions projected as needed by 2040. They are also 35% higher than the total demand growth in the period from 2014–2020, an excess that increases once NGLs and other non-crude supply additions are taken into account. Moreover, rational capacity additions post-2020 are expected to be no more than half the 1.4 mb/d p.a. expected between now and 2020, and less than one-third in the last five years of the forecast period.
Source: OPEC | Hellenic Shipping News
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Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
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