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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, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Australian Coal Association
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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