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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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Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- White Energy Company Limited
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
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