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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Eastern Energy - Thailand
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- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
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- Economic Council, Georgia
- Ministry of Mines - Canada
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- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
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- Latin American Coal - Colombia
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- SMC Global Power, Philippines
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- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
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- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
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- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
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- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
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- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
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- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
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- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
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- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
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- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
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- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Rio Tinto Coal - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Wilmar Investment Holdings
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- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
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- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
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- New Zealand Coal & Carbon
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- Bhushan Steel Limited - India
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- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
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- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
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- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
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- Ministry of Transport, Egypt
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Planning Commission, India
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