We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
 LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourage higher consumption. More specifically, according to Refinitiv estimates, this summer, there may be a global surplus of about 4 billion cbm available for NW Europe, with the U.S. making up the majority of that excess. Currently, the global LNG market is pivoted by Europe’s LNG contracting activity ahead of the following winter, as well as competition for cargoes from Southeast Asian price-sensitive buyers.
Natural Gas Pricing
Pricing dynamics are critical because they reflect the interaction between fundamentals and macroeconomic and geopolitical risks. The market will need to be carefully balanced, and the rebound in China's demand and the demand of Asia's price-sensitive buyers will be key factors. As the price of LNG has decreased (last Friday the Northeast spot Asian price was assessed at $12.5/MMBtu, down 16.6% m-o-m), there is now greater spot demand in Asia, with price-sensitive consumers returning to the market, including Bangladesh, India, smaller Chinese LNG firms, Singapore, Indonesia, and Malaysia, as well as Philippines and Vietnam that are also expected to enter the spot market this summer.
LNG Freight Rates
Since the beginning of the year, vessel rates have embarked on a downward trajectory. In the 2022 competitive market, freight rates in the Atlantic averaged close to $160,000/day as vessels competed to move cargoes to Europe. However, since the beginning of 2023, the freight market has been pivoted by a combination of lower natural gas prices and increased vessel supply, notably in the Atlantic Basin, thus exerting more pressure on rates. Spot rates currently stand above historical average Q1 levels, yet notably lower than the highs recorded in 4Q2022. On the other hand, T/C rates are currently seen as robust, reflecting future tightness in the market.
LNG Newbuilding Activity
Based on recent orders signed with South Korean shipyards, LNG newbuilding prices increased in the first quarter of 2023 amid high demand, limited shipbuilding capacity, and increasing inflation. More specifically, according to our preliminary data prices have climbed to $253 million during 1Q2023, 127% above the 5-year average newbuilding price (in a Korean yard). In terms of the number of orders, during 1Q2023, 17 vessels have been ordered versus 37 during 1Q2022 due to extremely tight shipbuilding capacity, especially in the top 3 Korean yards.
LNG S&P Activity
During 1Q2023, a total of 6 sales of second-hand LNG vessels have been reported, with 50% of the vessels sold being less than 10 years. In 1Q2023, the price for a 5-year-old LNG vessel stood at $245 million, 128% above the 5-year average, while the price for a 10-year-old LNG vessel hovered close to $155 million, 121% above the 5-year average.
Demolition Activity
The year kicked off a good start in terms of LNG carrier scrap sales, which in 2022 totaled just one vessel. So far in 1Q, a total of 3 vessels have been sold for scrapping at robust prices as owners scramble to replace their older tonnage ahead of new regulations on shipping emissions.
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
|
|
|
Showing 96 to 100 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
