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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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Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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Showing 1521 to 1525 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
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