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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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- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
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