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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, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
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- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
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- Therma Luzon, Inc, Philippines
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- VISA Power Limited - India
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- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
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- Global Coal Blending Company Limited - Australia
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- Alfred C Toepfer International GmbH - Germany
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- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Australian Coal Association
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- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
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- Indian Energy Exchange, India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- Standard Chartered Bank - UAE
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- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Thai Mozambique Logistica
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- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
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- Indonesian Coal Mining Association
- Ministry of Mines - Canada
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- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
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- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
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- The State Trading Corporation of India Ltd
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- Timah Investasi Mineral - Indoneisa
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- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
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- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
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- Salva Resources Pvt Ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
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