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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, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
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- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- VISA Power Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
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- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
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- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
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- Parliament of New Zealand
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- Singapore Mercantile Exchange
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- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
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- Energy Development Corp, Philippines
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- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
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