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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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Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
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- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
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- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
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