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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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- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- PTC India Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
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