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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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Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
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