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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
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