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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, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Planning Commission, India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
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