Indian refiner Reliance Industries Ltd believes it will stand to profit from the upcoming 0.5% sulphur cap for marine fuel effective 2020.
“As a result of our robust and flexible configuration, we are also uniquely positioned to take advantage of emerging opportunities in view of IMO 2020,” Mukesh Ambani, chairman and managing director of RIL, said at the firm’s 41st annual general meeting, as quoted by LiveMint.
A Macquarie Research report Monday estimated RIL’s gross refining margin (GRM) to hit $20 a barrel by the financial year 2020-21 against the estimated $12 as RIL stands to gain from expansion in middle distillate cracks.
“RIL is a prime beneficiary of IMO 2020 regulations. Unsurprisingly, on an absolute basis, RIL ranks at the top with refining margins expanding to $20 per barrel in FY3 from $12 today,” it says.
Other Indian refiners, Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp have also started production of low-sulphur fuel and will equally benefit from IMO 2020, it notes.
Published: 13 July, 2018
‘Many will hope that states will be more lenient during the initial period following January 2020,’ it says.
SIP can be filled in by ship owners/operators to help plan for IMO sulphur compliance by 2020.
The firm confirms all IMO compliant, 0.50% sulphur fuels developed to date are residual grades.
Submits group proposal to IMO’s Intersessional Meeting on sulphur implementation on July 9-13.
Joint event with IBIA on 18 June to provide further clarity on all pending IMO 2020 issues for members.
Positive about adoption of carriage ban and fuel quality reporting compromise at IMO meeting.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
Digitalization can help shipping achieve its decarbonization goals but only if human factors are considered enough when introducing smarter maritime operations with ‘user-friendly’ technology.
Anand S/O Omprekas, Noruliman Bin Bakti, and Muhammad Khairul Asri Bin Mohamad Hanafiah were tasked to verify the quantity of cargo supplied to vessels by Shell Eastern Petroleum Private Limited.
