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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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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
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