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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
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