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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Energy Development Corp, Philippines
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- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
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- Mercuria Energy - Indonesia
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- Altura Mining Limited, Indonesia
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- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
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- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
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- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
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- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
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- Bhushan Steel Limited - India
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
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- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
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