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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Minerals Council of Australia
- ASAPP Information Group - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
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