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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Planning Commission, India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
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