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