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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
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