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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
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