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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Orica Australia Pty. Ltd.
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
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