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