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Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritime Organization's (IMO) 0.5 wt% sulphur cap for bunker fuels kicks in.
Fuel oil, which is high in sulphur content, has traditionally been used by the shipping industry as bunker fuel. In 2017, global demand for high-sulphur fuel oil stood at over 70% of overall bunker fuels.
With the implementation of the IMO regulation in 2020, shippers will have to consider a switch to alternative fuels, such as Ultra Low Sulphur Fuel Oil (ULSFO) or marine gas oil (MGO), or install scrubbers, a system that removes sulphur from exhaust gas emitted by bunkers.
Installing scrubbers may be an economically attractive option. Although there is an initial investment, shippers can expect a rate of return of between 20% and 50% depending on investment cost, MGO-fuel oil spread and ships' fuel consumption. However, the penetration rate for scrubbers could be limited by a number of factors, including access to finance, scrubber manufacturing capacity and dry-dock space.
Demand from the bunker fuels market will total about 5.3 million b/d in 2020, according to Wood Mackenzie forecasts.
Based on pure ULSFO refinery streams, available ULSFO volumes in 2020 will total about 1.2 million b/d. This could be boosted by further blending ULSFO with vacuum gas oil (VGO) streams, but VGO is a valuable feedstock for the production of other lighter refinery products, and may not be readily available.
It is likely that MGO will help meet additional demand from the shipping sector. Wood Mackenzie estimates that this will see MGO demand rise by over 1 million b/d in 2020 in our base case outlook. Meeting this demand will require higher crude runs with residue upgrading units, particularly in the US and China, supporting an uplift in refining margins.
It also provides refiners, particularly in the US and China, the opportunity to capture the value of their ULSFO component streams and increase their share of the global bunker market.
Some refiners should see better profit margins as incremental demand for MGO rises, pushing up its price. Higher refining runs, required to meet additional MGO demand, could potentially push global gasoline market into surplus weakening gasoline prices. This could mean that the gasoline pain for some refiners could be more acute than the impact of weaker HSFO prices. Overall, we expect a material impact on refining economics post IMO and refiners must ensure they have a robust IMO strategy in place.
We also expect a shift in bunkering locations based on compliant fuels availability. Singapore, for example, could potentially lose some of its market share for bunker fuels to China as shippers look for alternative locations with a surplus of compliant fuels. China, with ample MGO supply, is well positioned to attract shippers.
New greenfield upgrading investments from refiners are unlikely to be purely driven by IMO regulation, and there is a need to look at longer-term rationale and strategic fit of these projects. Structural shifts in the fuel oil and gasoil markets may result in better economics, but that needs to be re-evaluated. For refiners choosing not to invest, the focus should be on infrastructure to capture the opportunity from their existing configuration and internal streams.
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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
...
Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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Showing 1711 to 1715 news of total 6871 |
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- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
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