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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- CNBM International Corporation - China
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
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