Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • CRFFN: "We Stand With The Council" NAGAFF Leadership

      Aug 4, 2025
      0
    • Maritime Academy: A Very Critical National Asset-Dr. Okonna

      Jul 31, 2025
      0
    • "Efficient Sea Ports Crucial To Africa's Economic Growth"-Dr. Dantsoho

      Jul 30, 2025
      0
    • Nigeria's IMO Council Bid Gains Traction With MOWCA Executives

      Jul 30, 2025
      0
    • Customs Urge Nigerians To Comply With Visa Regulations

      Jul 30, 2025
      0
    • "MAN A Pivotal Institution For The Blue Economy" Senator Eshinlokun

      Jul 29, 2025
      0
    • Nigeria Customs Set To Recover ₦379.5Billion From 223 Companies

      Jul 25, 2025
      0
    • Seme Command Records N1.5b Revenue, Makes N1.2b Seizures

      Jul 24, 2025
      0
    • SON Celebrate Inuwa As Board Chairman

      Jul 21, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • CRFFN: “We Stand With The Council” NAGAFF Leadership

  • Maritime Academy: A Very Critical National Asset-Dr. Okonna

  • “Efficient Sea Ports Crucial To Africa’s Economic Growth”-Dr. Dantsoho

  • Nigeria’s IMO Council Bid Gains Traction With MOWCA Executives

  • Customs Urge Nigerians To Comply With Visa Regulations

Maritime InfoNews
Home›Maritime Info›Crude Price to Climb Higher-Investor

Crude Price to Climb Higher-Investor

By Editor
May 23, 2018
1257
0
Share:

*AS ICS Predict Sulfur Chaos

In an investor report released this week, Morgan Stanley analysts predicted that the IMO fuel sulfur cap will boost oil prices above $90 per barrel, an unusual consequence of shipping’s new reliance on middle distillates.

When the 0.5 percent fuel sulfur content cap takes effect on January 1, 2020, the vast majority of the world’s fleet will need to purchase ultra-low-sulfur petroleum fuel. Current installation capacity for scrubbers – which allow continued use of high-sulfur fuel – could equip at most five percent of all merchant ships by the time the cap takes effect, according to analysts. Since scrubbers cost millions of dollars, add complexity to the vessel and take up space that could otherwise be used for cargo, they are only a viable option for bigger ships, according d’Amico CEO Marco Fiori.

Since at least 95 percent of merchant shipping will have to use low sulfur fuel or face penalties – at least within the Paris MOU flag states – demand for gasoil will rise. According to Kurt Barrow, vice president of downstream research for IHS Markit, the refining capacity to meet the demand for low-sulfur fuel will most likely exist in 2020, but only with higher overall crude processing – meaning a higher demand for crude.

In its report this week, Morgan Stanley agreed, and it put a number on the increase: The sulfur cap may create an additional 1.5 million bpd of gasoil demand by 2020, which would require refiners to run an additional 5.7 million bpd of crude.

“We foresee a scramble for middle distillates that will drive crack spreads higher and drag oil prices with it,” the bank’s analysts wrote. “The last period of severe middle distillate tightness occurred in late-2007/early-2008 and arguably was the critical factor that drove up Brent prices in that period.”

The production of the additional distillate volumes will not be evenly distributed, Morgan Stanley noted. Some refiners – like Repsol, Reliance Industries, Valero and Tupras Turkiye Petrol – are set up to produce more gasoil efficiently, while some are not. This could mean additional ton-mile demand for product tankers to carry MGO from far-flung refineries to bunkering ports.

 

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

Gains of The Nigeria/China Currency Deal-CBN

Next Article

Sulfur Cap Could Trigger Chaos-ICS

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    Country, People and Governance: Court Sacks CCB chairman and Members

    Apr 28, 2017
    By Editor
  • News

    Again, Senate Berates NPA

    Nov 2, 2016
    By Editor
  • FeaturedMaritime InfoNews

    NIMASA Floors NLNG In Levy Dispute

    Mar 29, 2019
    By Editor
  • News

    Rumble In Customs: Arewa Youths Express Anger Over Disparate Promotions

    Mar 8, 2022
    By Editor
  • News

    NIMASA Celebrate Dock Workers, Task Employers On Welfare

    Dec 7, 2023
    By Editor
  • FeaturedNews

    Navy Rescue Drowning Passengers

    Mar 29, 2019
    By Editor

Leave a Reply Cancel reply

  • News

    Monarch Appeals to FG for development of Urashi Seaport

  • FeaturedNews

    Catholics Mourn Pope Emeritus Benedict XVI

  • News

    Ministry Exceeds Revenue, Targets More

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

CRFFN: “We Stand With The Council” NAGAFF Leadership

The National Association of Government Approved Freight Forwarders (NAGAFF), has unequivocally, passed a vote of confidence on the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and its ...
  • Maritime Academy: A Very Critical National Asset-Dr. Okonna

    By Editor
    Jul 31, 2025
  • “Efficient Sea Ports Crucial To Africa’s Economic Growth”-Dr. Dantsoho

    By Editor
    Jul 30, 2025
  • Nigeria’s IMO Council Bid Gains Traction With MOWCA Executives

    By Editor
    Jul 30, 2025
  • Customs Urge Nigerians To Comply With Visa Regulations

    By Editor
    Jul 30, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved