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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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Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Indian Oil Corporation Limited
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- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
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- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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