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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, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
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