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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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Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
...
Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
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- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- MS Steel International - UAE
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