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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, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- The University of Queensland
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
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