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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- The University of Queensland
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
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