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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, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- White Energy Company Limited
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
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