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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 $75/ton differential a couple of months ago. This is another strong case for buyers being adaptable in that bunkering MGO could be the ‘best option’.
These developments in the Med and Singapore markets are only illustrations of what can happen in other global regions and reflects the squeezes on the VLSFO system at certain times and in certain areas. There is no ‘quick fix’ here and issues will continue to arise well beyond the January 1st IMO 2020 start date, as shipowners start burning VLSFO and will have to build and replenish VLSFO stocks on board.
We are providing buyers with access to this information and analysis on any tightness in availabilities, any constraints on terminal and barging operations and ultimately the knowledge on pricing, all of which will assist decisions in this complex and consistently changing market.
Source: Integr8 Fuels
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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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Wednesday, 08 January 20
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Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- CNBM International Corporation - China
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Parliament of New Zealand
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
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