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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- The University of Queensland
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
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