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Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Network. Recent geopolitical turmoil and focus on ‘energy security’ has placed the LNG sector at the centre of global events, adding further momentum to a shipping segment with plenty of existing underlying growth trends. Reviewing the report and recent data points, Steve Gordon, Managing Director of Clarksons Research, commented:
• The LNG industry is experiencing a significant expansion phase, with recent focus on energy security enhancing an underlying growth outlook supported by Asian gas demand, energy transition dynamics and a significant LNG export project program.
• European LNG imports up ~50% y-o-y in 1H 2022, with some US exports diverting to Europe rather than Asia and impacting average haul and tonne mile.
• Strong projected LNG trade growth of 5% in 2022 to 400mt, with tonne mile growth projected at 3%. There are now 58 countries involved in LNG trade and 308 active country to country trades (2011: 42 and 163).
• LNG export program suggests a doubling of the current 459mt of LNG export liquefaction capacity by 2028, with 165mtpa of export capacity now under construction and a further 293mtpa in FEED.
• Final Investment Decisions (FID) totalling 31mtpa confirmed in 1H 2022 with increases in SPA signings.
• Surge in interest in the FSRU sector amid energy security concerns in Europe; 12 FSRUs now secured by European countries since the onset of the conflict.
• LNG carrier fleet capacity reaches 691 vessels (621 over 100,000 cbm) of 103.8m cbm (for context the fleet was 362 vessels and 51.9m cbm ten years ago), with expansion of 3.8% and 4.6% projected for 2022 and 2023. 60% of capacity now owned by independent shipping companies, up from 43% in 2000.
• Newbuild orderbook now 40% of existing capacity, up from 27% at start 2021, while 32% of existing capacity is steam turbine and there are uncertainties around the impact of EEXI and CII regulations.
• Record LNG newbuild carrier contracting; 104 vessels of 17.4m cbm and $22bn ordered in 2022 as of mid-July (including ~30 for the Qatari newbuild programme), with contracting largely project-driven ahead of the significant volume of liquefaction capacity set to come online in 2025-26.
• Firm term charter rate environment; 1-year rate for a 160k cbm DFDE unit stood at $130,000/day in mid-July, with the 1H 2022 average up 56% y o y, though spot rates more volatile including impacts from Freeport LNG disruption.
• Continued expansion in the LNG bunkering market; 147 ports now offer LNG bunkering (potentially increasing to >200 by 2024): 37% of all vessel type newbuilding capacity currently under construction is LNG fuel capable.
• Positive and improved long-term outlook; current projections suggest LNG trade could reach ~620mt by 2030 (up ~40mt on prior estimates reflecting assumptions), supported by energy transition dynamics (LNG as a bridging fuel), firm Asian demand growth, liquefaction capacity expansion and a push towards energy security and a reduced reliance for Europe on Russian pipeline gas, with potential requirements for ~$99bn of newbuild investment across 2023-30.
LNG Trade and Transport is in its 21st edition and includes coverage the global gas and energy markets, the developing LNG trade matrix, liquefaction and regasification capacity, future projects, the LNG carrier shipping fleet and the owners, yards and technology involved; charter rates and asset value trends, the FSRU and FLNG sectors, and the LNG bunkering industry.
Source: Clarksons
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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
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