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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, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Mjunction Services Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- The University of Queensland
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
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