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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, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
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