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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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- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
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