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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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Friday, 06 November 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 ...
Thursday, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
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- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
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