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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
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