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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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Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
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- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
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