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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
 Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Ratings says.
Market expectations of oversupply and weak gas prices have curtailed new investment activity in the sector in the past two years. Limited capacity additions beyond 2020 should be positive for spot prices, especially in Asia and Europe. This will benefit LNG projects with significant uncontracted volumes and those linked to gas spot prices.
An unprecedented wave of new projects becoming operational in 2016-2019 has not resulted in, and is unlikely to result in a material surplus in the LNG market in the medium term. Additional LNG volumes continue to find a home across a diverse array of countries and new buyers, and under more flexible contracts.
Funding for new LNG capacity is often structured as non-recourse project finance and is dependent on sponsors’ ability to secure long-term offtake agreements, which buyers have been less willing to sign in anticipation of larger volumes of uncontracted LNG coming to the market. Therefore, sponsors may need to commit a higher equity contribution to get funding for LNG projects, which will continue to delay final investment decisions (FIDs) for some time. A typical timeframe for a new LNG project to become operational following the FID is four to five years. Due to limited new FIDs very few new projects will come on stream in the early 2020s. FIDs in the next one to two years are likely to be limited to projects with lower capital and operating costs given constraints on the funding side.
We expect gas demand to continue its robust growth in the coming years, mostly driven by Asian markets that account for two-thirds of overall LNG demand. This is due a combination of healthy power demand growth in the region, natural gas being the fossil fuel of choice in pursuit of curbing air pollution, and the backlash against nuclear energy. Japan is currently the largest LNG importer, but China is catching up quickly and becoming the major market for LNG.
The LNG market could shift into deficit by 2022-2025. Gas pricing is therefore likely to improve in the major importer markets, benefiting LNG projects relying on spot and hub pricing and entities with significant LNG trading portfolios. We also expect oil companies to gradually return to their earlier LNG ambitions. This includes oil majors, like Shell, BP and Total, most of which emphasise the growing role of gas in the global energy mix.
The LNG market is still in its formative stage. Pricing mechanisms, contract terms and financing structures continue to evolve. Long-term oil-linked contracts are giving way to increased trading activity, which represented around a quarter of all new contracts in 2017, according to IGU World Gas LNG Report, compared to just 1% in 2012. New large LNG projects still rely on long-term contracts in order to secure financing. However, elsewhere contracts are becoming shorter, and the quality of counterparties is declining. Contract prices are increasingly de-linked from oil pricing with a growing focus on spot and hub-based gas pricing.
Fitch-rated rated LNG projects will not be significantly affected by the trend towards increasing commoditisation. In the US, rated projects, such as Cameron LNG and Sabine Pass, benefit from robust contractual frameworks that provide mitigation to completion risks and often employ tolling or tolling-like arrangements that protect cash flows from volume and price risks. RasGas in Qatar mostly relies on long-term oil-linked contracts.
Source: Fitch Ratings
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Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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Showing 1601 to 1605 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Parliament of New Zealand
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Planning Commission, India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
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