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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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Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
Wednesday, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
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- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
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