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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
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