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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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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
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