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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 extended period of oversupply. Things haven’t played out quite like that, and prices have staged a strong recovery.
The market may not be out of the woods yet, as supply builds up next year potentially putting some downward pressure on prices. But the outlook beyond is bullish, with 65 mmtpa of new supply needed to meet growing demand by 2025 – that’s 20 mmtpa more than we forecast a year ago.
How have things turned round so quickly?
Demand has been firmer. Low prices drew buyers into the market after Asian LNG prices fell 75% from the 2013 peak of US$17/mmbtu to US$4/mmbtu by 2016. China began a buying spree that hasn’t stopped, spurred by the Government’s initiative to improve air quality in its cities. The Paris Agreement of 2015 has hardened energy policy – European governments are accelerating a shift away from coal to the benefit of renewables as well as gas. A new and diverse breed of countries has joined the traditional LNG buyers, among them Pakistan, Bangladesh, Colombia, Jamaica and Panama. LNG has gone global in the downturn.
Europe emerges as key growth target for LNG suppliers
Delayed production startup at some new LNG projects has also diminished the feared oversupply. Future gas supply in Europe will be structurally reduced by the decline of Groningen. The Dutch field, a pillar of continental supply for over 50 years, is beset by earthquakes. Volumes will be cut to minimal levels in the early 2020s and cease in 2030. With Russian pipelines maxed out, even with modest demand growth Europe has emerged as a key growth target for LNG suppliers. The loss of Groningen alone accounts for half of the 20 mmtpa increase in our forecast 2025 supply gap.
As global LNG players gather in Barcelona for the big Gastech Conference September 17-20, things look brighter. Yet major challenges lie ahead for the industry, these three among them.
1. Bringing competitive new supply to market
Projects are jockeying for position including Mozambique Areas 1 (Anadarko) and 4 (Eni/ExxonMobil), Arctic LNG 2 (NOVATEK/Total), LNG Canada (Shell/Petronas), Qatar expansions (Qatargas) and a plethora of US sites. 2019 may be the biggest year ever for LNG project sanctions; 100 mmtpa of new capacity could reach FID in the next three years.
Project delivery and managing spend of up to US$200bn will be big tests following the difficulties of the last cycle. And with buyers unwilling to commit to long term contracts for all their needs, sellers have to take on more risk. The ‘new economics’ of LNG projects favours big, financially strong players – large resource holders, major portfolio players and, possibly, traders.
2. The inexorable rise of US supply democratising the LNG market
A fringe player a few years ago, US LNG will vie with Qatar to be the world’s biggest supplier by the mid-2020s. Cheap Permian and Marcellus gas create a competitive advantage versus many conventional projects. Some LNG contracts are already marketed as distinctly Henry Hub, influencing oil-linked LNG pricing. In time a quarter of all cargoes on the high seas will be Henry Hub-derived, FOB with no destination clauses. This will dramatically increase liquidity in LNG trading and the effect on global LNG pricing will be profound.
Gas hubs in the US and Europe have evolved over the decades to accommodate gas/oil competition and arbitrage between spark spreads and dark spreads. So too will Henry Hub be duly absorbed into the global pricing mix in European hubs and Asia. A global LNG marker price will emerge with Henry Hub a key determinant.
3. The need for sustained gas advocacy
Gas is presently winning market share from coal. But intensifying policy on energy efficiency, methane and carbon emissions, the growth of renewables, development of battery storage and new energy technologies all pose a threat. Gas cannot rest on its laurels as a bridging fuel for the energy transition. The industry needs to keep pressing the case for gas as the low carbon intensity option, and continue to build new markets by ensuring security of supply at a competitive cost.
Source: Wood Mackenzie
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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
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.
...
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. ...
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Showing 1621 to 1625 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
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