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VLSFO premium of USD 200/tonne increases scrubber advantage

31 March 2022

The spread between very-low sulphur fuel oil (VLSFO) and high-sulphur fuel oil (HSFO) has widened following Russia's invasion of Ukraine. The HSFO price, however, could rise if Russian volumes coming into the market start declining due to sanctions.

China soybean imports drop 6.2% y/d, potential short-term recovery ahead

29 September 2022

On 26 September, soymeal prices in China surged 8% to CNY 5,500 (USD 739) per tonne compared to Monday last week. Following a jump in demand ahead of China’s national day on 1 October some crushers have had to stop production due to a shortage of soybeans. This could signal a recovery in imports after months of lacklustre demand and high soybean prices which have caused a 6.2% y/y drop in soybean imports so far in 2022.

Tankers end 2022 with 78% time charter contribution margin and best 2023 outlook

20 December 2022

What a difference a year makes! At the end of 2021, container ships were enjoying a historically strong market and freight and time charter rates had yet to peak. At the same time, dry bulk ships were seeing multi-year high rates slipping away, although still enjoying better returns than in previous years. However, tanker ships were seemingly still stuck in a COVID market rut without any immediate hopes for a strong comeback.

Share of ships with scrubbers seen rising despite 24% fall in fittings in 2022

15 March 2023

Scrubbers were installed on 399 ships in 2022, a fall of 24% y/y, and currently 13% of bulker, container, and tanker ships have a scrubber installed. Despite the slowing rate of installations, the share of ships with a scrubber is set to increase in coming years as 17% of ships in the shipyards’ order books are expected to have a scrubber installed.