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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, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
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- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- PTC India Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
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