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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, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- The University of Queensland
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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