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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, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Videocon Industries ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
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