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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, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Central Java Power - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
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