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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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Showing 1226 to 1230 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
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