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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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