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Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may well end up having a longer-term impact, especially on thermal coal.
The spot price dropped to $2.95 per million British thermal units (mmBtu) for the week ended Feb. 7, the lowest price in records stretching back to 2010. It has lost 57% of its value since the pre-winter peak of $6.80 per mmBtu in mid-October, and is down 74% from the peak price in 2018 and 86% from the all-time high from February 2014.
While it’s unlikely that spot LNG prices will stay at the current depressed levels indefinitely, the trend toward structurally lower prices appears sustainable. There is still no shortage of LNG projects being built, with 17 million tonnes of capacity due to be commissioned this year alone, and considerably more likely in the next five years, as projects from Russia to East Africa start to come online.
This supply surge is likely to have two impacts on prices. Firstly, it will ensure that spot prices remain under downward pressure, and secondly, it will likely accelerate the shift away from long-term, oil-linked contracts to shorter-term, more flexibly priced deals.
This change in the way LNG is priced should give pause for considerable thought to any would-be developers of thermal coal power projects based on imported fuel in Asia, especially Japan. As a country that relies on imports for virtually all its energy, Japan has long prioritized security of supply and diversity in its energy mix. But perhaps the sands have shifted enough to lead to a re-think.
It would in all likelihood be possible to sign long-term or medium-term LNG supply pacts that are not linked to the price of crude oil, but rather to other instruments such as U.S. Henry Hub natural gas, or European gas prices, or even seaborne thermal coal costs. This could give Japan the security of supply it desires, but virtually eliminate the problem LNG has always had, its high cost relative to thermal coal.
Source: IEEFA | Reuters
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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- MS Steel International - UAE
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- Petron Corporation, Philippines
- Minerals Council of Australia
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- Australian Commodity Traders Exchange
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- Bahari Cakrawala Sebuku - Indonesia
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- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
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- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
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- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
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- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
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- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
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- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- The University of Queensland
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- Cement Manufacturers Association - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
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- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
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- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
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