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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Minerals Council of Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
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