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
Gains ‘competitive advantage’ ahead of IMO 2020 with 20% acquisition of Feen Marine Scrubbers Inc.
‘2019 will be crucial for the implementation of the reduced upper limit of the sulphur content in ships’ fuel-oil.’
‘A minimum of 22 months before anything can enter into force,’ says legal affairs and external relations director.
‘We haven't yet gotten to the point where we feel that's a good use of capital for Scorpio Bulkers,’ says COO.
Local bunker suppliers have indicated the availability of 0.5% fuel oil and fuel quality assurance at all ports.
SOAAG, National Petroleum Authority, Ghana Ports and Harbours Authority, and more, attended the seminar.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
