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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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Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- PTC India Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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