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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 $5 million per ship, installing a scrubber can be prohibitively expensive for an industry that has seen challenging financial conditions for several years and is facing additional costs associated with the IMO’s ballast water treatment rules,” Rats says.
The research report points to an estimate from marine and energy technology group Wartsila, which forecasts it will only be possible to install 2,000-3,000 scrubbers by the January 2020 deadline. Morgan Stanley’s Capital Goods team expect just 1,200 scrubbers to be installed by 2020, out of a fleet of 60,000 ships (commercial fleet), although the payback period on a scrubber could move to less than one year in the future, the report says.
By Mette Kronholm Fraende, Communications Manager at BIMCO
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
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