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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
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- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
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- Bulk Trading Sa - Switzerland
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- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
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- Gujarat Sidhee Cement - India
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- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
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- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- Directorate Of Revenue Intelligence - India
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- Ministry of Transport, Egypt
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- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
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- Indika Energy - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
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- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
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- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
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- Parliament of New Zealand
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- White Energy Company Limited
- Energy Link Ltd, New Zealand
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- Kapuas Tunggal Persada - Indonesia
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- McConnell Dowell - Australia
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- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
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- Georgia Ports Authority, United States
- MS Steel International - UAE
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- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
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- The Treasury - Australian Government
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- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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