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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
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