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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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
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