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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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Wednesday, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- PTC India Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
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