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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
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