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Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
 Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be capped to 0.5% by IMO convention, ruling out current standard grades of HFO. Both fuel consumers in the shipping industry and producers in the refining industry have now had a little time to consider the potential options to deal with the imminent regulatory change…
SOx Appeal
Nearly a year on from the confirmation that the IMO would proceed with the 2020 global sulphur cap, there is still little certainty as to how shipping market players will react. There are options: either the demand side reacts, and owners fit SOx scrubbers, or investigate alternative fuels, or the supply side (i.e. the refining industry) finds a way to supply low sulphur compliant fuels.
So far, there appears limited take-up of scrubbers by owners (232 vessels recorded). Capex estimates for retrofits range from $1-8m, and until January 2020, such costs represent expenditure with no economic benefits outside ECAs. Similarly, potential LNG fuel retrofits may be complex, expensive and limit refuelling options. Only 369 ships are recorded as LNG fuel capable, 70% of which are LNG carriers; another 263 are on order.
Refining Marine Fuel Demand
Refining Marine Fuel Demand
Most bunkers (circa 80%) are heavy fuel oil. Roughly 5m bpd, or 45% of world fuel oil output, ends up as marine bunkers. In general, refineries are designed to produce as little fuel oil as possible, and may use cracking/coking units to achieve this. But much of what is produced ends up as bunkers: shipping consumes a lot of the least-valued fraction (for example, a 14,000 TEU containership, spending 70% of its time at sea at 18 knots, might burn more than 23,000t of HFO per annum).
The choice for ECAs has been gasoil (MGO) to achieve 0.1% sulphur, and 5% of gas oil production ends up as bunkers. However, gas oil, kerosene and gasoline are priced higher because they have uses as land/air transportation fuels. It is unlikely that come 2020, there would be sufficient volumes available of gasoil to fuel the global shipping industry. At a time of weak prices, oil companies are cutting both up and downstream capex, and appear to have little incentive to build new infrastructure to desulphurise fuel oil. Even if new refinery investment was made, refiners would be likely to prioritise additional gasoline production.
Distilling The Issue Down
So, it seems unlikely that there will suddenly be large amounts of new 0.1% LSFO produced by refineries, nor enough distillates available for ships to run on MGO. Diverting additional gasoil to shipping would imply the payment of similar prices as onshore uses. Hence, the most likely outcome is that low sulphur compliant fuels will be achieved by blending a partial amount of gas oil into HFO, to reduce it below 0.5% sulphur content.
So, it is still not fully clear what the state of play will be in 2020. For both bunker suppliers and owners, investment with over two years to go may be hard to justify, but an unprepared industry in 2020 might be exposed to price spikes. It may well be that a mixture of solutions initially prevails, at least until a consensus emerges over the most economic solution. Have a nice day.
Source: Clarksons
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Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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Showing 1841 to 1845 news of total 6871 |
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- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
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