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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, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
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