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Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
 Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and freight rates performing. But occasionally it can be worth pointing the telescope in the other direction, and spending time considering how events on land can affect the industry. One such major land-based change has been the development of US shale oil and gas.
What No-One Saw Coming
Back in 2009, few would have dared predict that new fracking technologies would allow the US to add 10m boepd of unconventional output across a five year period. This is roughly the same net volume as was added to global offshore output between 2000 and 2015. The offshore markets have been amongst the hardest hit by the oversupply, and cuts in investment will make it harder to add to the 46.9m boepd set to be produced offshore globally in 2016. Since the oil price slump, rig rates have dropped by more than 50%, OSV rates by more than 35%, and today more than 300 rigs and 1,400 OSVs are laid up.
Shale In The Sights
One of the main factors which helped shale fracking to become widespread was the rapid recovery of the oil price after the 2009 downturn. This, of course, also helped the offshore sector have its day in the sun, before the downturn. But shale’s growth also had an impact on other shipping segments. US LPG exports grew at a CAGR of 71% in 2010-15. The growth of shale gas even led to proposals for the first transatlantic exports of ethane derived from it, and orders for ‘VLECs’ vessels followed.
The rise of shale gas also changed the LNG trade fundamentally. In 2010, US LNG imports were expected to be a major growth area. Today, the US has 117mt of under-utilised LNG import infrastructure (imports were just 1.86mt in 2015). Some projects have been converted to liquefaction, and up to 250mt of export capacity was mooted. One new project, Sabine Pass, is now exporting.
Telescoping Tank Capacity
Growth of US shale substantially reduced US import demand for light crudes. This primarily affected imports from West Africa. The transatlantic trade on Suezmaxes and Aframaxes fell from 1.8m bpd in 2010 to 0.3m bpd in 2014. But a 1975 ban on US crude exports prevented tanker exports of surplus oil, much of which is light grades for which US refineries were not ideally configured. US Jones Act tankers and tank barges benefited, as limited fleet supply for upcoast voyages sent coastal time charter rates as high as $140,000/day in mid-2015, but there was no similar effect on international trade.
The US government has now eased the export restrictions, but this has come as lower oil prices have hit the rig count and output onshore. The lower oil price has caused shale to go into decline. Yet it has provided a nice boost for tanker trades, as low oil prices have stimulated oil demand from transportation and industry.
So, developments in the mid-west of America have had major ramifications for energy shipping and offshore markets globally. This is set to continue as the industry waits to see how shale responds to the slight oil price gain over Q2 2016. This only goes to demonstrate the need to keep this related land-based industry under surveillance. Have a nice day.
Source: Clarksons
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Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Australian Coal Association
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
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