We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
 LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory levels of natural gas and LNG in several of the largest end markets for LNG and the outbreak of COVID-19, the impact of which has had an uneven distribution around the world during the year to date. For example, Chinese demand was 15 million tonnes (“mt”) in the first quarter of 2020, a decrease of 5% over the first quarter of 2019, according to Poten, but apparent demand in April has increased year-on-year based on vessel tracking data, including several cargoes exported from the U.S., GasLog says in its latest financial report.
Gaslog further noted, meanwhile, demand from Northern Asia more broadly (Japan, China, South Korea and Taiwan) grew by approximately 1 mt in the first quarter or 3% year-over-year. In addition, demand from India grew by nearly 2 mt in the first quarter of 2020 (or 37%) as the country looked to take advantage of historically low gas prices, although apparent demand in April is likely to be lower year-on-year based on vessel tracking data. Finally, demand from Europe grew by over 4 mt (or 37%) as gas pricing favored coal-to-gas switching for power generation and LNG replaces indigenous gas production. In total, LNG demand was 98 mt in the first quarter of 2020, compared to 89 mt in the first quarter of 2019, or an increase of 10%.
Wood Mackenzie currently expects global LNG demand to grow 21 mt or 6% this year, slower than the 26 mt or 7% it anticipated earlier this year prior to the global outbreak of COVID-19. Nonetheless, the demand for LNG over the near-term continues to be uncertain as many LNG importing countries either continue to have in effect shelter-in-place orders which prevent the operation of businesses deemed to be “non-essential” or are in the early stages of reopening their economies. Consequently, measures of global economic activity have declined significantly from comparable periods in 2019. However, the longer-term outlook for LNG demand remains favorable with demand growth of 92 mt estimated over the 2019-2025 timeframe, or compound annual growth of approximately 4%, according to Wood Mackenzie.
According to GasLog's latest financial report, global LNG supply was approximately 98 mt in the first quarter of 2020, an increase of 10 mt over the first quarter of 2019 (or 11%), primarily due to new supply additions in the U.S. (Cameron T1 and T2, Freeport T1, T2 and T3 and Elba Island), according to estimates from Wood Mackenzie. LNG supply is estimated to grow by 22 mt this year as the third train of Cameron begins operations and recent capacity additions continue to increase production. Further ahead, approximately 97 mt of new LNG capacity is expected to begin production during 2021-2025. However, Wood Mackenzie expects the pace of new project sanctions to slow significantly in 2020 due to the uncertainties caused by the COVID-19 outbreak in long-term demand for LNG and low global energy prices, in particular crude oil prices due to oversupply following a collapse in oil demand due to the COVID-19 virus.
In the LNG shipping spot market, tri-fuel diesel electric vessel (“TFDE”) headline rates, as reported by Clarksons, averaged $57,000 per day in the first quarter of 2020, a decrease from the averages of $108,000 in the fourth quarter of 2019 and $59,500 in the first quarter of 2019. Headline spot rates for steam turbine propulsion (“Steam”) vessels averaged $40,000 per day in the first quarter of 2020, a decrease from the average of $78,000 per day in the fourth quarter of 2019 but approximately in line with the $39,000 per day observed in the first quarter of 2019. Slower than expected LNG demand growth due in part to the impact of COVID-19 (as detailed above), high global inventories of natural gas and LNG following a warmer than average winter in the Northern Hemisphere and limited opportunities for LNG arbitrage trading between Atlantic and Pacific basins impacted headline spot rates in the first quarter of 2020.
Clarksons currently assesses headline spot rates for TFDE and Steam LNG carriers at $32,500 per day and $23,000 per day, respectively. The COVID-19 outbreak has introduced significant uncertainty regarding demand for LNG, and consequently, demand for LNG shipping over the near term. The combined impact of the COVID-19 outbreak and normal seasonality may lead to greater volatility in spot rates and to lower utilization of vessels trading in the spot and short-term markets, in particular Steam vessels. In addition, global gas prices and gas price differentials remain near historic lows in the key markets of North Asia and Europe, limiting the opportunities for inter-basin arbitrage trading and likely reducing average voyage distances as well as potentially reducing global output of LNG over the near-term, particularly in the U.S., where a number of cargo deferrals and/or cancellations have been reported for this summer, said GasLog.
As of May 5, 2020, the orderbook totals 118 dedicated LNG carriers (>100,000 cbm), according to estimates from Poten, representing 22% of the on-the-water fleet. Of these, 74 vessels (or 63%) have multi-year charters. The pace of newbuild ordering has slowed significantly relative to 2018-19, with only 4 newbuildings ordered so far in 2020 and all of them ordered against multi-year contracts, an encouraging development for the future supply and demand balance of LNG carriers.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
|
|
|
Showing 711 to 715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
|
| |
| |
|
