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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Energy Development Corp, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
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