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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, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- The University of Queensland
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