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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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Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
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- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
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- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
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