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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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Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- CNBM International Corporation - China
- Parliament of New Zealand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
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