Page 7: of Maritime Reporter Magazine (December 2020)

Did You Know?

BIMCO: 47% of All 2020 Newbuild Dry

Bulkers are Out? tted with Emission Scrubbers

As the calendar (thankfully) turns to far cry from the pre-IMO 2020 average 2021, it’s a good time to re? ect on the is- of $185 per MT seen between August sue that was top of mind when the clock 1 and December 31, 2019,” said Peter was winding down on 2019: IMO2020 Sand, BIMCO Chief Shipping Analyst.

and the strict new mandates on sulfur emissions from ships. There were many wild prognostications regarding avail- ability of fuel, fuel pricing and techni- cal questions regarding ship machinery.

What really happened? BIMCO offers a close look at the dry bulk newbuild mar- ket. While only three Handysize bulk- ers in total have been delivered from the “It is worthwhile to mention that 2020 year-to-date average spot market earnings for a scrubber- ? tted Capesize have exceeded that of a non- scrubber ? tted capesize by $2,818 per day (+27%).”

Peter Sand, Chief Shipping

Analyst, BIMCO newbuilding yards with a scrubber ? tted in 2020, one in three Handymax bulkers were delivered with scrubbers installed.

Most scrubber-? tted bulkers were delivered in the Panamax sub-sector, that saw 81 units out of 150, equal to a share of 54%. When considering the share of scrubber-? tted ships within the large sub-sectors, comprising of cape- size, Very Large Ore Carriers (VLOC) and Valemax, that share ranges between 85% and 100%. In just 13 cases out of the 96 ships that burn the most fuel, the shipowner opted for using VLSFO instead of making the scrubber invest- ment. “Clearly, the marine bunker fuel price spread between low sulfur fuels and heavy sulfur fuels has been lower than initially expected. Currently at $72 per MT in Singapore, the spread is a www.marinelink.com 7

MR #12 (1-17).indd 7 12/7/2020 3:03:10 PM