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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
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