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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, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Planning Commission, India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
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