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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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Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
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