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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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- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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