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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Minerals Council of Australia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
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