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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, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
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Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- The University of Queensland
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
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