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Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
 Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and freight rates performing. But occasionally it can be worth pointing the telescope in the other direction, and spending time considering how events on land can affect the industry. One such major land-based change has been the development of US shale oil and gas.
What No-One Saw Coming
Back in 2009, few would have dared predict that new fracking technologies would allow the US to add 10m boepd of unconventional output across a five year period. This is roughly the same net volume as was added to global offshore output between 2000 and 2015. The offshore markets have been amongst the hardest hit by the oversupply, and cuts in investment will make it harder to add to the 46.9m boepd set to be produced offshore globally in 2016. Since the oil price slump, rig rates have dropped by more than 50%, OSV rates by more than 35%, and today more than 300 rigs and 1,400 OSVs are laid up.
Shale In The Sights
One of the main factors which helped shale fracking to become widespread was the rapid recovery of the oil price after the 2009 downturn. This, of course, also helped the offshore sector have its day in the sun, before the downturn. But shale’s growth also had an impact on other shipping segments. US LPG exports grew at a CAGR of 71% in 2010-15. The growth of shale gas even led to proposals for the first transatlantic exports of ethane derived from it, and orders for ‘VLECs’ vessels followed.
The rise of shale gas also changed the LNG trade fundamentally. In 2010, US LNG imports were expected to be a major growth area. Today, the US has 117mt of under-utilised LNG import infrastructure (imports were just 1.86mt in 2015). Some projects have been converted to liquefaction, and up to 250mt of export capacity was mooted. One new project, Sabine Pass, is now exporting.
Telescoping Tank Capacity
Growth of US shale substantially reduced US import demand for light crudes. This primarily affected imports from West Africa. The transatlantic trade on Suezmaxes and Aframaxes fell from 1.8m bpd in 2010 to 0.3m bpd in 2014. But a 1975 ban on US crude exports prevented tanker exports of surplus oil, much of which is light grades for which US refineries were not ideally configured. US Jones Act tankers and tank barges benefited, as limited fleet supply for upcoast voyages sent coastal time charter rates as high as $140,000/day in mid-2015, but there was no similar effect on international trade.
The US government has now eased the export restrictions, but this has come as lower oil prices have hit the rig count and output onshore. The lower oil price has caused shale to go into decline. Yet it has provided a nice boost for tanker trades, as low oil prices have stimulated oil demand from transportation and industry.
So, developments in the mid-west of America have had major ramifications for energy shipping and offshore markets globally. This is set to continue as the industry waits to see how shale responds to the slight oil price gain over Q2 2016. This only goes to demonstrate the need to keep this related land-based industry under surveillance. Have a nice day.
Source: Clarksons
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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
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