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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
 Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Ratings says.
Market expectations of oversupply and weak gas prices have curtailed new investment activity in the sector in the past two years. Limited capacity additions beyond 2020 should be positive for spot prices, especially in Asia and Europe. This will benefit LNG projects with significant uncontracted volumes and those linked to gas spot prices.
An unprecedented wave of new projects becoming operational in 2016-2019 has not resulted in, and is unlikely to result in a material surplus in the LNG market in the medium term. Additional LNG volumes continue to find a home across a diverse array of countries and new buyers, and under more flexible contracts.
Funding for new LNG capacity is often structured as non-recourse project finance and is dependent on sponsors’ ability to secure long-term offtake agreements, which buyers have been less willing to sign in anticipation of larger volumes of uncontracted LNG coming to the market. Therefore, sponsors may need to commit a higher equity contribution to get funding for LNG projects, which will continue to delay final investment decisions (FIDs) for some time. A typical timeframe for a new LNG project to become operational following the FID is four to five years. Due to limited new FIDs very few new projects will come on stream in the early 2020s. FIDs in the next one to two years are likely to be limited to projects with lower capital and operating costs given constraints on the funding side.
We expect gas demand to continue its robust growth in the coming years, mostly driven by Asian markets that account for two-thirds of overall LNG demand. This is due a combination of healthy power demand growth in the region, natural gas being the fossil fuel of choice in pursuit of curbing air pollution, and the backlash against nuclear energy. Japan is currently the largest LNG importer, but China is catching up quickly and becoming the major market for LNG.
The LNG market could shift into deficit by 2022-2025. Gas pricing is therefore likely to improve in the major importer markets, benefiting LNG projects relying on spot and hub pricing and entities with significant LNG trading portfolios. We also expect oil companies to gradually return to their earlier LNG ambitions. This includes oil majors, like Shell, BP and Total, most of which emphasise the growing role of gas in the global energy mix.
The LNG market is still in its formative stage. Pricing mechanisms, contract terms and financing structures continue to evolve. Long-term oil-linked contracts are giving way to increased trading activity, which represented around a quarter of all new contracts in 2017, according to IGU World Gas LNG Report, compared to just 1% in 2012. New large LNG projects still rely on long-term contracts in order to secure financing. However, elsewhere contracts are becoming shorter, and the quality of counterparties is declining. Contract prices are increasingly de-linked from oil pricing with a growing focus on spot and hub-based gas pricing.
Fitch-rated rated LNG projects will not be significantly affected by the trend towards increasing commoditisation. In the US, rated projects, such as Cameron LNG and Sabine Pass, benefit from robust contractual frameworks that provide mitigation to completion risks and often employ tolling or tolling-like arrangements that protect cash flows from volume and price risks. RasGas in Qatar mostly relies on long-term oil-linked contracts.
Source: Fitch Ratings
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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
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Showing 1621 to 1625 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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