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Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may well end up having a longer-term impact, especially on thermal coal.
The spot price dropped to $2.95 per million British thermal units (mmBtu) for the week ended Feb. 7, the lowest price in records stretching back to 2010. It has lost 57% of its value since the pre-winter peak of $6.80 per mmBtu in mid-October, and is down 74% from the peak price in 2018 and 86% from the all-time high from February 2014.
While it’s unlikely that spot LNG prices will stay at the current depressed levels indefinitely, the trend toward structurally lower prices appears sustainable. There is still no shortage of LNG projects being built, with 17 million tonnes of capacity due to be commissioned this year alone, and considerably more likely in the next five years, as projects from Russia to East Africa start to come online.
This supply surge is likely to have two impacts on prices. Firstly, it will ensure that spot prices remain under downward pressure, and secondly, it will likely accelerate the shift away from long-term, oil-linked contracts to shorter-term, more flexibly priced deals.
This change in the way LNG is priced should give pause for considerable thought to any would-be developers of thermal coal power projects based on imported fuel in Asia, especially Japan. As a country that relies on imports for virtually all its energy, Japan has long prioritized security of supply and diversity in its energy mix. But perhaps the sands have shifted enough to lead to a re-think.
It would in all likelihood be possible to sign long-term or medium-term LNG supply pacts that are not linked to the price of crude oil, but rather to other instruments such as U.S. Henry Hub natural gas, or European gas prices, or even seaborne thermal coal costs. This could give Japan the security of supply it desires, but virtually eliminate the problem LNG has always had, its high cost relative to thermal coal.
Source: IEEFA | Reuters
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- White Energy Company Limited
- Planning Commission, India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
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