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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
 In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fitted with scrubbers will represent only a tiny percentage of the world fleet, according to forecasts.
There are many estimates of how many ships will be fitted with scrubbers – as opposed to how many will opt for compliant, low-sulphur fuel – as the shipping, port and bunker industries anticipate the new sulphur cap regulation from the International Maritime Organization (IMO).
Scrubbers – the least-preferred option
Demand for scrubbers has increased strongly, and some charterers have started to demand that scrubbers be fitted on chartered ships, according to James Forsdyke, Hong Kong and Taiwan Area Manager for Marine and Offshore at independent risk-management organisation and classification society Lloyd’s Register.
But according to Lloyd’s Register, scrubbers will be the least-preferred option for shipowners to comply with the 2020 sulphur cap regulation.
“With 18 months to go, no matter the speed of uptake of scrubbers, it is a physical impossibility that it is going to be the main solution of the global trading fleet,” Forsdyke says.
“If every single dry dock fills up with ships now, and starts fitting scrubbers non-stop until 2020, the net result is still going to be a very small proportion. The people who have chosen scrubbers will be a minority on 1 January 2020,“ he adds.
Pick-up will not change fundamentals
Of about 90,000 ships currently classified as active in the world fleet, around 50,000-60,000 are internationally trading and fall under the new sulphur regulation. Recent figures (on 21 June) from Clarkson, the world’s largest shipbroking and integrated shipping services provider, estimate that just short of 600 scrubbers are currently installed. According to Forsdyke, an optimistic estimate would suggest that a maximum of 3,000 scrubbers will be installed by 2020.
“I think demand will continue to go up, but not enough to change the fundamentals of how the majority of the world fleet will choose to comply,” Forsdyke says.
Morgan Stanley: Soft scrubber uptake, despite attractive payback period
In a recent research report from US investment bank Morgan Stanley, scrubber uptake has been softer than expected, even with increasingly attractive payback periods on the investment.
“With the exception of cruise liners, which make up about 3% of bunker fuel demand, shippers have overwhelmingly expressed a preference for compliant fuels over installing scrubbers,” says Martijn Rats, Equity Analyst at Morgan Stanley.
“At current spot spreads, payback periods for scrubbers look very attractive and should fall further if prices move as we expect. But at a cost of up to $5 million per ship, installing a scrubber can be prohibitively expensive for an industry that has seen challenging financial conditions for several years and is facing additional costs associated with the IMO’s ballast water treatment rules,” Rats says.
The research report points to an estimate from marine and energy technology group Wartsila, which forecasts it will only be possible to install 2,000-3,000 scrubbers by the January 2020 deadline. Morgan Stanley’s Capital Goods team expect just 1,200 scrubbers to be installed by 2020, out of a fleet of 60,000 ships (commercial fleet), although the payback period on a scrubber could move to less than one year in the future, the report says.
By Mette Kronholm Fraende, Communications Manager at BIMCO
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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
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