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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
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