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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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