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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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- CNBM International Corporation - China
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Minerals Council of Australia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
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