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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 $140,000/day in mid-2015, but there was no similar effect on international trade.
The US government has now eased the export restrictions, but this has come as lower oil prices have hit the rig count and output onshore. The lower oil price has caused shale to go into decline. Yet it has provided a nice boost for tanker trades, as low oil prices have stimulated oil demand from transportation and industry.
So, developments in the mid-west of America have had major ramifications for energy shipping and offshore markets globally. This is set to continue as the industry waits to see how shale responds to the slight oil price gain over Q2 2016. This only goes to demonstrate the need to keep this related land-based industry under surveillance. Have a nice day.
Source: Clarksons
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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
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- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
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- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
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- GVK Power & Infra Limited - India
- Planning Commission, India
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- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
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- Mjunction Services Limited - India
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- Coal and Oil Company - UAE
- Bhatia International Limited - India
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- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
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- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
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- Cement Manufacturers Association - India
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- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
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- Metalloyd Limited - United Kingdom
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- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
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