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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, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Planning Commission, India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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