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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
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