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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, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
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