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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Anglo American - United Kingdom
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- MS Steel International - UAE
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
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