We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
 With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of 0.5% sulphur content does not yet exist physically nor financially. Thus, there is technical and financial planning to be involved and as reported the current global crude streams enable the production of about 15mill bl/d of final 0.5% sulphur content marine fuel if refineries maximize output. The market is currently using Gasoil 0.1% sulphur content price as a proxy for the upcoming 0.5%S MFO. Accordingly, it is estimated that between 2020 and 2022 it will trade at USD 90/ton discount to the Gasoil 0.1% price. Later, it is projected that the 0.5% MFO price will settle closer to the HFO 3.5% price, at a USD 90/ton premium to HFO 3.5%.
As seen, many ship-owners have rushed to order scrubbers and as reported in 2020 there will be more than 1600 scrubbers installed and on order. It is projected that between 2021 and 2022 demand will be much higher always subject to the order books. As discussed in 2020, the global bunker oil consumption will be mainly MFO of 0.5% sulphur content and almost 95% of vessels will not have scrubbers fitted. Unavoidably, in order for refineries to produce MFO of 0.5% sulphur content there will be a great availability of HFO 3.5% fuel. This is because high sulphur residue fuel is a by product in the production of MFO 0.5%. Rationally HFO 3.5% will be available in larger ports and most probably will be utilized by container vessels in certain routes or product carriers that will trade between refineries. Therefore, for these routes and specific trade, scrubber installation will certainly advance. In general, it is forecasted that more than 2.0m bl/d of HFO 3.5% surplus will be produced in 2020 and the question remains where and how this amount of fuel will be stored. The increased inventory will lead to HFO 3.5% prices being low for some time until the supply/demand balances and thus prices will be restored in the later years.
Furthermore, as the new fuel is yet unknown there is a discussion by ship-owners whether blending MFO 0.5% from various suppliers will be stable and not likely to damage engines. Overall, most shippers are installing scrubbers to part of their fleet to build up step by step knowledge. Scrubber installation has led many to believe that “early movers will make a scrubber profit” while “late movers will make a scrubber saving”. Last but not least, many ship-owners that have their vessels on long time charters have considered the option to include a clause in their charter parties, for Charterers requesting a scrubber vessel, to pay for it through hire agreement.
The next couple of years will not be short of interesting developments for sure. The second half of 2019 and closer to 2020 will lead to more confident conclusions towards the MFO 0.5%, Gasoil 0.1% and HFO 3.5% price spreads with the maritime industry’s bunker fuel shift. It is expected that concerns related to volatility of the MFO 0.5% product will progressively dissolve as more users will be able to test it during 2019 leading to the understanding that it will not be a gasoil-based product but instead a fuel-based bunker. Finally, it is expected that scrubber installation for bigger vessels will be hurried while for fleets with smaller vessels it will take longer. The main question to be answered is whether scrubber installation will generate profits or just savings.
By Katerina Resti
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
|
|
|
Showing 1501 to 1505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
|
| |
| |
|
