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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 $75/ton differential a couple of months ago. This is another strong case for buyers being adaptable in that bunkering MGO could be the ‘best option’.
These developments in the Med and Singapore markets are only illustrations of what can happen in other global regions and reflects the squeezes on the VLSFO system at certain times and in certain areas. There is no ‘quick fix’ here and issues will continue to arise well beyond the January 1st IMO 2020 start date, as shipowners start burning VLSFO and will have to build and replenish VLSFO stocks on board.
We are providing buyers with access to this information and analysis on any tightness in availabilities, any constraints on terminal and barging operations and ultimately the knowledge on pricing, all of which will assist decisions in this complex and consistently changing market.
Source: Integr8 Fuels
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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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Wednesday, 08 January 20
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Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
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Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Planning Commission, India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
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