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