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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
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