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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
 LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall of gas flows to Europe from Russia, resulting in whipsaw patterns in gas prices in the EU/US.
The EU/US Taskforce to reduce Europe’s dependence on Russian gas held a meeting on June 14th, planning further US LNG exports to the EU, amidst a flurry of commercial activity due to the recent fire at the Freeport LNG export terminal in Texas, which initiated on the 8th of June. Officials said, during the previous week, that damage from the fire at its Texas plant would keep it fully offline until September with only partial operation through year-end. Following the news of the extended shutdown, natural gas prices slumped in the United States and soared in Europe.
The closure came as pipeline supplies from Europe’s top providers are also capped. For instance, key facilities in Norway have been undergoing annual maintenance, while Russia’s supplies are below capacity after several European buyers were cut off for refusing to meet Moscow’s demands to be ultimately paid in rubles for its pipeline fuel. Russian gas supply to Europe via the Nord Stream 1 pipeline fell further on June 16th, and Moscow said more delays in repairs could lead to suspending all flows, putting a brake on Europe’s race to refill its gas inventories. Russia clearly steps up the use of energy as a weapon, prompting Germany to accuse Kremlin of trying to drive up prices. There is a very real probability that European conventional storage will start the new withdrawal period with low stocks again, indicating tightness in LNG and gas markets lasts well into 2023.
More specifically TTF closed at $84.400MMBtu on June 1st, but following the fire news, it marked at climbed to $91.550MMBtu intraweek. Last week it was traded up to $148.745 MMBtu on June 16th, marking an intamonth high, after the cut in gas flows from Nord Stream 1 pipeline.
Key underlying drivers in bringing LNG prices together are weak demand in North Asia, the world's main consuming region, amidst the latest lockdown in China, as well as strong demand in Europe due to the policy pivot towards LNG and away from dependence on Russian pipeline gas. The wave of new supply additions to the global LNG market seen during 2015-2020 is slowing down considerably and considering minimal growth during 2020 and 2021, supply seems to be outstripped by demand. Supply will most likely remain curbed, while Gazprom’s CEO is warning that there is no solution at the moment for issues with gas turbines, essential for the pipeline’s functioning. That said, refilling of storage tanks for the winter when demand typically peaks is threatened. With European gas supplies being already squeezed and on the back of a dearth of gas supplies for the coming winter, a return to coal now seems the only viable option for EU countries.
While gas demand in China will remain the engine of global LNG growth, disruptions in new LNG production out of the US which was set out to be the key to global balance over 2022, form the main market indicators which are pointing in the same direction and they are, undoubtedly, signaling a supply/demand imbalance that will continue to nibble sentiment in the short term.
By Chara Georgousi,
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Mjunction Services Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
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