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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
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