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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
 A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of scrubbers and the benefits of alternative fuel usage. Aside from all of these, there is another reading to this new regulation. New oil products (ultra-low sulphur fuel oil) as well as the much larger quantities of MGO that will be needed from the shipping industry will reshape trade patterns around the globe. The first effect could well be depicted in crude oil trade due to shifts in refinery utilization, said Yiannis Vamvakas, Research Analyst of Allied Shipping in Allied latest weekly research report.
Specifically, demand for light sweet crude oil will move upward as it will be required from the non-upgraded refineries, while it is possible to see a negative trend in the demand for heavy sour grades. The second part is the need for redistribution of the low-sulphur fuels, in order to properly cover the global bunkering markets.
Yiannis Vamvakas further noted that, a side-effect to this could well be the requirement for floating storage for both clean (building of inventories), as well as dirty products (storage of the excess heavy fuel oil produced). Demand for HSFO is projected to recover in the long-term, as scrubber-equipped ships will continue using it. However, given that the IMO expects around 3,800 vessels to be fitted with scrubbers by 2020, it looks as though these vessels will remain a relatively small percentage of the global fleet. Many refineries have proceeded with their investment plans, adding capacity in order to produce more middle distillates, with the International Energy Agency (IEA) forecasting that an additional 7 million barrels per day will come into production by 2023.
However, Yiannis Vamvakas says, there are also several refineries that have not yet fully prepared for the IMO 2020 regulation, possible creating a shortfall of the required fuels in certain regions. All in all, the most modernized refineries with extensive vacuum resid processing capacity will benefit most from the new regulation, as they will be able to produce larger quantities of required fuels, gaining market share in the marine sector. Based on these facts, demand will increase in regions were the more modern refineries reside, modifying current trade routes. According to a Reuters survey, around 66% of 33 questioned refineries will continue produce HSFO in 2020, but 70% of these stated that they will reduce their output. A decline has already been reported in fuel oil inventories, depicting the fact that refineries have started to cut output in anticipation of the regulation. However, it’s worth mentioning that if output cuts prove to be bigger than the consumption fall, prices will see a significant upsurge. With regards to different geographical locations, most of the US refineries have been upgraded by the US shale boom, giving them a head start, but they are still dependent on heavy fuel imports, which is used for blending purposes. This means that further investments will be required for adding de-sulphurisation capacity.
In Europe, the report says, the coastal refineries are better prepared compared to their mainland peers, as their main oil source is crude from North and West Africa, regions with less sour oil. In Middle East and China, most of the refineries do not have the capacity of de-sulphurisation needed to produce the new low-sulphur fuels, making new investments necessary. In almost all cases a significant change is to take place in the shipping industry.
This change can be seen as a threat, an opportunity or as a combination of these two. The modification of crude oil/oil products trade flows should benefit owners and refineries that are flexible and adaptable enough for the new regulations, while it may be a significant threat for market participants that will choose to fall behind their competition Yiannis Vamvakas concluded in his latest report.
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Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
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- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Australian Coal Association
- Indian Energy Exchange, India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
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