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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
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