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Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
 Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG export projects over the previous two years due to market expectations of oversupply, higher demand during Asia's summer and winter periods and rising oil prices, with LNG contracts typically linked to oil price benchmarks with a three- to six-month lagged effect.
LNG demand should also be supported across the Asia-Pacific region by rising energy usage and a government-supported switch to natural gas from coal to curb air pollution. Most of the region's demand growth has come from China, which is now the second-largest global LNG importer, behind Japan. Chinese government policy encouraging a switch to gas for winter heating led demand to rise by 46.4% in 2017, with further growth in 2018. This should support further investment in LNG over the next two years, with the market potentially entering a deficit in 2022-2025.
The ongoing trade war between China and the US, with China placing an initial 10% tariff on US LNG, may delay further investment in US projects and limit US export volume to China. However, China only accounted for 15% of US LNG exports over 2017 and Fitch expects US cargos to be redirected to other markets should exports become uncompetitive. We believe the ongoing impact will be limited, as Chinese importers had already cut purchases of US natural gas in the previous few months. PetroChina Company Limited (A+/Stable) had also signed a long-term LNG contract with Qatargas in September 2018, which should mitigate the loss of US imports.
Trade tensions may slow further investment in US LNG facilities, but globally, several major LNG projects have either been greenlit or moved towards final investment decision (FID). We do not expect new projects to deliver their first cargos until around 2022, as LNG projects typically take around four to five years from FID to first cargo delivery.
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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
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