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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 $75/ton differential a couple of months ago. This is another strong case for buyers being adaptable in that bunkering MGO could be the ‘best option’.
These developments in the Med and Singapore markets are only illustrations of what can happen in other global regions and reflects the squeezes on the VLSFO system at certain times and in certain areas. There is no ‘quick fix’ here and issues will continue to arise well beyond the January 1st IMO 2020 start date, as shipowners start burning VLSFO and will have to build and replenish VLSFO stocks on board.
We are providing buyers with access to this information and analysis on any tightness in availabilities, any constraints on terminal and barging operations and ultimately the knowledge on pricing, all of which will assist decisions in this complex and consistently changing market.
Source: Integr8 Fuels
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Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
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