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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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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- PTC India Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
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