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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, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Minerals Council of Australia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
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