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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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Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
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Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
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- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
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