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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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Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
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