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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- The University of Queensland
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Australian Coal Association
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
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