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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
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- Planning Commission, India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
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- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
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- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
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- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
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- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Economic Council, Georgia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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