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Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
 As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be compliant with the IMO 2020 global sulphur cap which came into force on 1 January 2020, overall bunker sales rose in the world’s by far largest bunkering hub: Singapore.
Total bunker sale volumes grew by 5% in 2020 and have continued to climb in the first two months of 2021 (+2.7% y/y). An indication of the shipping industry’s ability to deliver all the way through the pandemic. One quarter of total bunker sales in February 2021 was HSFO, a share that has only risen since January 2020, when no more than 17% of sales were fuel oil for ships with a scrubber installed.
The USD 118 per MT difference
From the get-go, the debate was all about the bunker price spread and therefore the choice between HSFO and investing in a scrubber or using LSFO to comply with the new sulphur regulation. As 2021 arrived and the crazy 2020 was nearing an end, the next normal seemed to be in the making.
“The lowest price spread can be found on the US west coast while the largest spread can be found in the Middle East. In between, you have USD 118 per MT as the most common spread. That’s the price spread you will find in Singapore,” says Peter Sand, BIMCO’s Chief Shipping Analyst.
Prior to the implementation of the sulphur regulation, the then-watched MGO-HSFO spread hovered around USD 200 per MT, but it was clear that a new and lower spread would settle one point. As the ‘new standard’ LSFO is now established, the pricing of the product also seems to have arrived at the next normal.
Who cares about the price spread? Scrubber owners do!
Soon, 15 months have passed since the implementation date for the IMO global sulphur cap. During that time, the number of scrubbers installed on the world fleet has nearly doubled. From 2,011 ships on 1 January 2020 to 3,935 by 1 March 2021.
Among the main shipping sectors, 15.9% of all containerships (28.7% in TEU), 11.4% of all dry bulkers (22.7% in DWT), 24.5% of all crude oil tankers (29.9% in DWT) and 4.2% of all oil product tankers (13.4% in DWT) are now fitted with a scrubber to remove the sulphureous oxides from the exhaust gasses.
“There is a clear tendency that it is the large ships that burn most bunkers which have been preferred for scrubber installations. But it goes for all: as voyage costs are lowered, earnings are higher,” Sand says, adding:
“As the bunker price spread now seems to have found a steady level slightly above USD 100 per MT, ship owners and investors are increasingly likely to order new ships with a scrubber preinstalled today, when compared to the sub-100 dollar spread of last year.”
Source: BIMCO, Peter Sand, Chief Shipping Analyst
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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
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- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
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