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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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Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
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