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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
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