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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Deloitte Consulting - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
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