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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- The Treasury - Australian Government
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- Price Waterhouse Coopers - Russia
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- Rio Tinto Coal - Australia
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- Sojitz Corporation - Japan
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- Indonesian Coal Mining Association
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- GMR Energy Limited - India
- Thai Mozambique Logistica
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- Ministry of Mines - Canada
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- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- The University of Queensland
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
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- Petrochimia International Co. Ltd.- Taiwan
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- Power Finance Corporation Ltd., India
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- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
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- Cigading International Bulk Terminal - Indonesia
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- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
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- McConnell Dowell - Australia
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- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
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- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
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- Kumho Petrochemical, South Korea
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- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
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- Independent Power Producers Association of India
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- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
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- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
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- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Central Electricity Authority - India
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