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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, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- The University of Queensland
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
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