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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, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- MS Steel International - UAE
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
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