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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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Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
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- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Dalmia Cement Bharat India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Videocon Industries ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
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