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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- PTC India Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
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