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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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Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
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