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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Karaikal Port Pvt Ltd - India
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