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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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Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
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