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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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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Parliament of New Zealand
- The University of Queensland
- Medco Energi Mining Internasional
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
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