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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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Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
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