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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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Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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Showing 1626 to 1630 news of total 6871 |
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- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
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