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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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Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- The University of Queensland
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- PTC India Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Parliament of New Zealand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
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