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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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Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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