In The Media
1. As reported in Argus Media on October 31, 2011:
In the wake of Japan’s deadly earthquake and resulting tsunami in March, the country will rely on a mix of fossil fuels to fill the nuclear gap with particular emphasis on LNG, an energy consultant said last week at the 2011 Energy Conference in Miami, Florida. . . . Before March there were 55 nuclear reactors with aggregate capacity of 49.1GW. The aggregate loss to the Japanese nuclear industry was 2,812MW, with “collateral” loss of 6,284MW, Axelrod Energy Projects principal Larry Axelrod said. . . . By May all but one of the currently operational reactors will be off-line for inspections and maintenance, and there will be a significant drop in nuclear utilization going forward because of increased public scrutiny and regulatory caution, Axelrod said. . . . Japan is expected to return to roughly pre-quake electricity demand in 2012, and Axelrod expects incremental demand growth in 2013.
2. As reported in Platts Bunkerwire on May 28, 2010:
With the demand for HSFO to dwindle with the IMO restrictions, conversely LSFO will see a demand spike and movement, according to sources. “The question is, where are you going to get LSFO [for trans Atlantic voyages]?” said Larry Axelrod, principal of Axelrod Energy Projects. “In Europe you can find it in the ECAs, and you can get it in the East Coast US . . . .” Axelrod says there is a finite amount of LSFO, with two avenues supplying that demand — locally produced and imported. “You can get the fuel from local refineries, but they would have to increase their runs,” Axelrod said. “But refineries don’t do that for bunkers. Or you can get it from straight run . . .that usually goes for processing.” Axelrod said from time to time, straight run could be bid away from processing and put into the market. But the price would have to be right. The second avenue for LSFO would be imports.”We could get more from Brazil or Canada or Argentina,” Axelrod said.
3. As reported in Platts Global Alert, May 29, 2009:
During a discussion of the impending need for lower sulfur bunker fuel oil for vessels in response to tightening IMO regulations and the options of shipborne scrubbers and desulfurization at refineries…
“Lawrence Axelrod of Axelrod Energy Projects, the conference organizer, said the problem is that ‘ship owners want refiners to take care of it, and refiners want ship owners to do it.’ The conference was hosted by Malta utility Enemalta.”
4. As reported in Argus Global Markets, July 18, 2008:
“Mediterranean high-sulphur fuel oil has been moving to the Asia-Pacific blending centre of Singapore. But demand in the Mediterranean market is growing too. Bunker fuel demand in Gibraltar is rising by 5pc/yr. And Syria is importing more high-sulphur fuel oil cargoes. Mediterranean prices have risen high enough to reverse a traditional arbitrage, attracting US Gulf coast high-sulphur fuel oil cargoes transatlantic, energy consultant Lawrence Axelrod says.”
