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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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