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
‘A drastic step-change is expected in 2020 and if a smooth transition is not ensured, the impact will be great,’ it notes.
Developments to position the company ahead of the implementation of sulphur caps, says CEO.
Not all VLSFO are paraffinic and VLSFO has a 3% higher energy content, which is something to consider rather than only looking at the price per metric ton, it said.
Lower demand and improved supply logistics for LSFO main factors behind the narrowing of price premium over HSFO.
Firm in December entered into $42.4 million hybrid scrubber manufacturing agreement for 28 of its vessels.
‘Ultimately, it’ll be up to each country how they actually deal with and enforce FONAR situations’.
Glander International Bunkering (Norway) AS seeking payment of USD 115,963.52 (not including contractual compensation and interests) from the vessel’s demise charterer, according to court documents.
“In TotalEnergies, we already have projects along the e-Fuel value chain, from green electricity and green / blue hydrogen to e-Fuel production that will be integrated along the marine fuels value chain in time to come,” shares Louise Tricoire.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
