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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
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