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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
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