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Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
 As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; changes in bunker infrastructure, availabilities and pricing are all having a major impact, posing challenges to bunker buyers and these are not going to go away quickly.
The process of switching infrastructure (storage and barges) from HSFO to VLSFO has been noticeably underway since September. We have seen a significant strengthening and then weakening in HSFO prices (see Integr8 briefing note 22nd November 2019) and now we are at the next stage, where buyers have/are switching rapidly towards VLSFO. The impacts of this change-over are again easily seen, in terms of terminal congestion, barge delays, availabilities and of course price.
Since October the quoted price of HSFO has fallen sharply, whereas the price of VLSFO in Rotterdam has been around $480-500/ton. VLSFO prices in Gibraltar, Fujairah and Singapore rising fast and well above the $540-560/ton range we saw in October/November. This means quoted VLSFO prices are now around $230-240/ton above HSFO.
VLSFO prices can vary by as much as $80 per tonne in the same region
The moves in VLSFO pricing reflect owners shifting towards these new compliant fuels and that there are constraints on infrastructure and availabilities in the VLSFO supply chain. The extent of this is not only seen in VLSFO price differences between main bunkering regions, but also VLSFO pricing within a given region. The graph below illustrates the significant variation in VLSFO pricing within the Mediterranean, with for instance quoted prices at Piraeus sometimes anywhere between $20-80/ton below Gibraltar prices and prices in Malta still plus or minus $20/ton compared with Gibraltar quotes. These positions mean as a buyer, being adaptable and looking at possible alternate bunkering locations could be very attractive.
In some instances MGO prices are only a small premium to VLSFO
Finally, these squeezes in VLSFO have already led to instances where there is an extremely small price differential between VLSFO and MGO (or even some instances where MGO has been priced below VLSFO). Currently, there is less than $10/ton differential between quoted prices for MGO and VLSFO in Singapore, down from around a $75/ton differential a couple of months ago. This is another strong case for buyers being adaptable in that bunkering MGO could be the ‘best option’.
These developments in the Med and Singapore markets are only illustrations of what can happen in other global regions and reflects the squeezes on the VLSFO system at certain times and in certain areas. There is no ‘quick fix’ here and issues will continue to arise well beyond the January 1st IMO 2020 start date, as shipowners start burning VLSFO and will have to build and replenish VLSFO stocks on board.
We are providing buyers with access to this information and analysis on any tightness in availabilities, any constraints on terminal and barging operations and ultimately the knowledge on pricing, all of which will assist decisions in this complex and consistently changing market.
Source: Integr8 Fuels
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Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
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