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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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- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
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