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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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Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
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