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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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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
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