We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
|
|
|
Showing 166 to 170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
|
| |
| |
|
