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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
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