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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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