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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, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
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- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
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