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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, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
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