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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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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
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