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Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
 LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory levels of natural gas and LNG in several of the largest end markets for LNG and the outbreak of COVID-19, the impact of which has had an uneven distribution around the world during the year to date. For example, Chinese demand was 15 million tonnes (“mt”) in the first quarter of 2020, a decrease of 5% over the first quarter of 2019, according to Poten, but apparent demand in April has increased year-on-year based on vessel tracking data, including several cargoes exported from the U.S., GasLog says in its latest financial report.
Gaslog further noted, meanwhile, demand from Northern Asia more broadly (Japan, China, South Korea and Taiwan) grew by approximately 1 mt in the first quarter or 3% year-over-year. In addition, demand from India grew by nearly 2 mt in the first quarter of 2020 (or 37%) as the country looked to take advantage of historically low gas prices, although apparent demand in April is likely to be lower year-on-year based on vessel tracking data. Finally, demand from Europe grew by over 4 mt (or 37%) as gas pricing favored coal-to-gas switching for power generation and LNG replaces indigenous gas production. In total, LNG demand was 98 mt in the first quarter of 2020, compared to 89 mt in the first quarter of 2019, or an increase of 10%.
Wood Mackenzie currently expects global LNG demand to grow 21 mt or 6% this year, slower than the 26 mt or 7% it anticipated earlier this year prior to the global outbreak of COVID-19. Nonetheless, the demand for LNG over the near-term continues to be uncertain as many LNG importing countries either continue to have in effect shelter-in-place orders which prevent the operation of businesses deemed to be “non-essential” or are in the early stages of reopening their economies. Consequently, measures of global economic activity have declined significantly from comparable periods in 2019. However, the longer-term outlook for LNG demand remains favorable with demand growth of 92 mt estimated over the 2019-2025 timeframe, or compound annual growth of approximately 4%, according to Wood Mackenzie.
According to GasLog's latest financial report, global LNG supply was approximately 98 mt in the first quarter of 2020, an increase of 10 mt over the first quarter of 2019 (or 11%), primarily due to new supply additions in the U.S. (Cameron T1 and T2, Freeport T1, T2 and T3 and Elba Island), according to estimates from Wood Mackenzie. LNG supply is estimated to grow by 22 mt this year as the third train of Cameron begins operations and recent capacity additions continue to increase production. Further ahead, approximately 97 mt of new LNG capacity is expected to begin production during 2021-2025. However, Wood Mackenzie expects the pace of new project sanctions to slow significantly in 2020 due to the uncertainties caused by the COVID-19 outbreak in long-term demand for LNG and low global energy prices, in particular crude oil prices due to oversupply following a collapse in oil demand due to the COVID-19 virus.
In the LNG shipping spot market, tri-fuel diesel electric vessel (“TFDE”) headline rates, as reported by Clarksons, averaged $57,000 per day in the first quarter of 2020, a decrease from the averages of $108,000 in the fourth quarter of 2019 and $59,500 in the first quarter of 2019. Headline spot rates for steam turbine propulsion (“Steam”) vessels averaged $40,000 per day in the first quarter of 2020, a decrease from the average of $78,000 per day in the fourth quarter of 2019 but approximately in line with the $39,000 per day observed in the first quarter of 2019. Slower than expected LNG demand growth due in part to the impact of COVID-19 (as detailed above), high global inventories of natural gas and LNG following a warmer than average winter in the Northern Hemisphere and limited opportunities for LNG arbitrage trading between Atlantic and Pacific basins impacted headline spot rates in the first quarter of 2020.
Clarksons currently assesses headline spot rates for TFDE and Steam LNG carriers at $32,500 per day and $23,000 per day, respectively. The COVID-19 outbreak has introduced significant uncertainty regarding demand for LNG, and consequently, demand for LNG shipping over the near term. The combined impact of the COVID-19 outbreak and normal seasonality may lead to greater volatility in spot rates and to lower utilization of vessels trading in the spot and short-term markets, in particular Steam vessels. In addition, global gas prices and gas price differentials remain near historic lows in the key markets of North Asia and Europe, limiting the opportunities for inter-basin arbitrage trading and likely reducing average voyage distances as well as potentially reducing global output of LNG over the near-term, particularly in the U.S., where a number of cargo deferrals and/or cancellations have been reported for this summer, said GasLog.
As of May 5, 2020, the orderbook totals 118 dedicated LNG carriers (>100,000 cbm), according to estimates from Poten, representing 22% of the on-the-water fleet. Of these, 74 vessels (or 63%) have multi-year charters. The pace of newbuild ordering has slowed significantly relative to 2018-19, with only 4 newbuildings ordered so far in 2020 and all of them ordered against multi-year contracts, an encouraging development for the future supply and demand balance of LNG carriers.
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
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