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.
|
|
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
|
|
|
Showing 976 to 980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
|
| |
| |
|
