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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
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