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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
 LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall of gas flows to Europe from Russia, resulting in whipsaw patterns in gas prices in the EU/US.
The EU/US Taskforce to reduce Europe’s dependence on Russian gas held a meeting on June 14th, planning further US LNG exports to the EU, amidst a flurry of commercial activity due to the recent fire at the Freeport LNG export terminal in Texas, which initiated on the 8th of June. Officials said, during the previous week, that damage from the fire at its Texas plant would keep it fully offline until September with only partial operation through year-end. Following the news of the extended shutdown, natural gas prices slumped in the United States and soared in Europe.
The closure came as pipeline supplies from Europe’s top providers are also capped. For instance, key facilities in Norway have been undergoing annual maintenance, while Russia’s supplies are below capacity after several European buyers were cut off for refusing to meet Moscow’s demands to be ultimately paid in rubles for its pipeline fuel. Russian gas supply to Europe via the Nord Stream 1 pipeline fell further on June 16th, and Moscow said more delays in repairs could lead to suspending all flows, putting a brake on Europe’s race to refill its gas inventories. Russia clearly steps up the use of energy as a weapon, prompting Germany to accuse Kremlin of trying to drive up prices. There is a very real probability that European conventional storage will start the new withdrawal period with low stocks again, indicating tightness in LNG and gas markets lasts well into 2023.
More specifically TTF closed at $84.400MMBtu on June 1st, but following the fire news, it marked at climbed to $91.550MMBtu intraweek. Last week it was traded up to $148.745 MMBtu on June 16th, marking an intamonth high, after the cut in gas flows from Nord Stream 1 pipeline.
Key underlying drivers in bringing LNG prices together are weak demand in North Asia, the world's main consuming region, amidst the latest lockdown in China, as well as strong demand in Europe due to the policy pivot towards LNG and away from dependence on Russian pipeline gas. The wave of new supply additions to the global LNG market seen during 2015-2020 is slowing down considerably and considering minimal growth during 2020 and 2021, supply seems to be outstripped by demand. Supply will most likely remain curbed, while Gazprom’s CEO is warning that there is no solution at the moment for issues with gas turbines, essential for the pipeline’s functioning. That said, refilling of storage tanks for the winter when demand typically peaks is threatened. With European gas supplies being already squeezed and on the back of a dearth of gas supplies for the coming winter, a return to coal now seems the only viable option for EU countries.
While gas demand in China will remain the engine of global LNG growth, disruptions in new LNG production out of the US which was set out to be the key to global balance over 2022, form the main market indicators which are pointing in the same direction and they are, undoubtedly, signaling a supply/demand imbalance that will continue to nibble sentiment in the short term.
By Chara Georgousi,
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
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