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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, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
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INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
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