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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, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
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- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
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