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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Marubeni Corporation - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Australian Coal Association
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