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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, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
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