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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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