Edf Trading News

Japan’s LNG importing giant JERA and global wholesale energy markets player EDF Trading have completed the transaction to merge their LNG optimization and trading activities into JERA Global Markets (JERAGM), the new name for JERA Trading.JERAGM is now the exclusive LNG optimiser for JERA and EDF S.A., managing their collective short and medium-term LNG optimisation activities in the wholesale markets. This transaction follows the successful completion of the acquisition of EDFT’s coal business by JERAGM on 4th April, 2017.“This is a great opportunity for EDFT which strengthens our partnership with one of the largest buyers of LNG and coal in the world.

Genco Shipping & Trading Limited said it has opened an office in Singapore and has appointed Ivo Kempenaer as Vice President and Commercial Director, Head of Major Bulks. “Genco continues to take important steps to optimize our commercial strategy and enable the company to more fully capitalize on its leading and sizeable operating platform. We are excited to establish a Singapore presence and grow our footprint globally, supporting our efforts to offer a full-scale logistics solution and strengthen relationships with leading iron ore producers and charterers worldwide.” John C.

On April 14, newly constructed coal carrier Isuzu Maru was delivered at Oshima Shipbuilding Co. Ltd. in Saikai, Japan. The new vessel will be operated by NYK Bulkship (Asia) Pte. Ltd., an NYK group company located in Singapore, for the transport of coal for JERA Trading Singapore Pte. Ltd., a coal trading corporation owned by JERA Co., Inc. (67 percent) and EDF Trading Limited (33 percent). JERA Co., Inc. The delivery and naming ceremony held at the shipyard was attended by Tomohiko Ono…

EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one of the world’s largest buyers of liquefied natural gas. Jera, a joint venture between Tokyo Electric Power Co. and Chubu Electric Power Co., will sell as much as 1.5 million metric tons of LNG between June 2018 and December 2020. According to Bloomberg, Jera’s debut as a seller to Europe underscores how the oversupplied market has challenged traditional exporters, who have relied on steady, one-way demand from buyers in countries like Japan, the world’s largest consumer of the fuel. Japan’s new role as a middleman adds further pressure on LNG producers, who are losing bargaining power because of the glut.

Egypt's state-owned EGAS said on Friday it had postponed a liquefied natural gas (LNG) delivery from BP last month until later this year, rejecting suggestions there were any payment difficulties. LNG tanker British Sapphire was diverted to Brazil rather than discharging in Egypt. Traders said the delay was related to payment problems. "This is completely untrue," EGAS Chairman Khaled Abdel Badie told Reuters, adding that deliveries had been postponed until Egypt's peak energy consumption period in August. Egypt became a major market for LNG shippers after the launch of two floating import terminals last year. Badie said Egypt is looking to rent a third floating storage and regasification unit (FSRU) in the first quarter on 2016.

BP's diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country's currency crisis could be jeopardising its energy supplies, traders said. Earlier this month the tanker British Sapphire was diverted to Brazil rather than discharging in Egypt, with the delivery of the LNG cargo for Egypt delayed up until October, traders said. BP declined to comment. Egypt's state-owned EGAS was not available to comment. Egypt has been struggling to pay for U.S. dollar-priced oil products and LNG due to an acute foreign currency crisis, worsened by the Russian airliner disaster in October, which hit tourism revenue.

Seven companies reportedly met with Egyptian Natural Gas Holding Co. (EGAS) to discuss an  liquified natural gas (LNG) tender, including: Vitol, Noble Group, Trafigura, EDF Trading, PetroChina, Shell and Gas Natural, reports Reuters. EGAS will buy 55 LNG cargoes from November this year to December 2016 through a tender it has agreed to with those seven different companies. Originally, only 45 LNG cargoes were to be delivered. The cargoes are expected to meet much of Egypt's near-term energy needs as the government tries to cope with an energy shortage. Falling output and rising demand have turned the country from an oil and gas exporter to net importer and it has emerged as a major new market for LNG.

Argentina's state-controlled YPF has bought at least five cargoes of liquefied natural gas (LNG) for delivery between April and June, traders said on Friday. Suppliers included Shell, EDF Trading, Petrobras, BP and Excelerate, traders said. The purchases were the result of a tender by YPF last week to buy 11 shipments of LNG to partially cover its southern hemisphere winter needs. Sales prices for the cargoes, which will be split between Argentina's two import terminals, achieved at least a $1 per million British thermal units (mmBtu) premium to Britain's National Balancing Point (NBP) gas hub price, traders said. The UK gas price for April was trading at $6.74 per mmBtu on Friday, with May and June lower. Reporting by Sarah McFarlane and Oleg Vukmanovic

When BG Group Plc announced last week it was shifting the headquarters of its oil and liquefied natural gas (LNG) trading operation to Singapore from Britain, it said the aim was to get closer to its customers. Analysts and consultants agreed that the growing importance of Japanese and Korean utilities in the LNG market meant the move would have clear logistical and commercial benefits. But they also said another motivation was likely at play: tax. "Tax is always a factor," said Bob Piller, a Swiss-based energy trading consultant who previously worked for commodities giant Vitol.

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, has announced that it has entered into a time charter contract with EDF Trading Ltd., U.K., through a separate wholly-owned subsidiary, for one of its Panamax dry bulk vessels, the m/v Thetis.  The gross charter rate is $8,300 per day, minus a 5% commission paid to third parties, for a period of minimum 22 months to maximum 27 months. The charter is expected commence by the end of August 2013. The Thetis is a 73,583 dwt Panamax dry bulk vessel built in 2004. This employment is anticipated to generate approximately $5.5 million of gross revenue for the minimum scheduled period of the charter.

Shanghai-based Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced  agreement with EDF Trading and Exmar NV to support their collective endeavors to pursue LNG export opportunities in North America using offshore, barge-mounted natural gas liquefaction facilities developed by Exmar, Wison and Black & Veatch. Under the agreement, Wison would be responsible for the turnkey engineering, procurement, construction, installation and commissioning (EPCIC) services for the mobile, self-contained units that would be capable of tying in to existing pipeline, tank and jetty infrastructure to enable LNG export. These plants will utilize topside liquefaction equipment and packages designed by Black & Veatch using its proven PRICO single mixed refrigerant technology.

EDF Trading with EXMAR intend to seek small-scale LNG export opportunities in North America using barge-mounted natural gas liquefaction. The mobile gas liquefaction plants are developed by EXMAR, Wison and Black&Veatch. The aim would be to bring mobile, self-contained liquefaction units to LNG import terminals in the US using existing pipeline, tank and jetty infrastructure to enable LNG export. EDF Trading and EXMAR have secured the support of the Wison Group for the provision of turn-key EPCIC services for the construction and commissioning of barge-mounted liquefaction plants. These plants will make use of Black&Veatch’s proven PRICO® single mixed refrigerant liquefaction technology but no commercial terms of the arrangements were disclosed.

Diana Shipping Inc. (NYSE:DSX) has entered into time charter contracts for three of its vessels. The Company has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Norfolk. The gross charter rate is US$10,700 per day, minus a 4.5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013. Additionally, the Company has entered into a time charter contract with EDF Trading Limited, UK, through a separate wholly-owned subsidiary…

Diana Shipping Inc. (NYSE:DSX), today announced that it has entered into a time charter contract with EDF Trading Limited, London, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v "Dione," at a gross charter rate of US$9,700 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum twenty-nine (29) months.   The charter is expected to commence in mid-July 2012. This employment is anticipated to generate approximately US$6.98 million of gross revenue for the minimum scheduled period of the charter. The Dione is a 75,172 dwt Panamax dry bulk vessel built in 2001.

On May 16 Diana Shipping Inc. (NYSE:DSX) took delivery of the newly-built m/v "Philadelphia", a Newcastlemax dry bulk carrier of 206,040 dwt that was contracted in April 2010. As previously announced, the m/v "Philadelphia" is chartered to EDF Trading Ltd., London, at a gross rate of $18,000 per day, minus a 5% commission paid to third parties, for a minimum forty-four (44) to a maximum fifty (50) month period. The charter commenced yesterday. This employment is anticipated to generate approximately $23.76 million of gross revenue for the minimum scheduled period of the charter. The Company also announced that through one of its wholly owned subsidiaries…

Diana Shipping Inc. (NYSE:DSX) took delivery of the newly-built m/v "Los Angeles", a Newcastlemax dry bulk carrier of 206,104 dwt that was contracted in April 2010. As previously announced, the m/v "Los Angeles" is chartered to EDF Trading Ltd., London, at a  gross rate of US$18,000 per day, minus a 5% commission paid to third parties, for a minimum forty-six (46) to a maximum fifty (50) month period. The charter is expected to commence tomorrow. This employment is anticipated to generate approximately $24.8m of gross revenue for the minimum scheduled period of the charter. Separately, the Company also announced that on February 7, 2012, it completed the drawdown of $16.125m from a term loan facility with Nordea Bank Finland Plc, London Branch, through a wholly owned subsidiary.

Diana Shipping Inc. (NYSE:DSX) entered into two time charter contracts with EDF Trading Limited, London, for its two Newcastlemax dry bulk carriers, the m/v Los Angeles and the m/v Philadelphia, which are currently under construction. Both charters will be at a gross rate of US$18,000 per day, minus a 5% commission paid to third parties, for a minimum 46 to a maximum 50 month period for the Los Angeles and a minimum 44 to a maximum 50 month period for the Philadelphia. As previously announced, the above mentioned vessels are Newcastlemax dry bulk carriers of approximately 206,000 dwt each that were contracted in April 2010. The charters are expected to commence upon delivery of the Los Angeles and the Philadelphia to the Company from the shipbuilding yard…

Quintana Maritime Limited to purchase two 181,000 deadweight-ton (dwt) Capesize vessels. The vessels are being built at STX Shipbuilding Co., Ltd., a major South Korean shipyard, with delivery expected in the fourth quarter of 2010. The expected total cost at delivery of the two vessels, including contract costs and financing costs, will be approximately $159m. Quintana expects to nominate shipowning companies in which it will own a 50 percent interest to purchase the vessels. The company is in the process of negotiating the terms of the agreements governing the joint ventures. The company will pay approximately $16m, $4m and $60m in 2007, 2008 and 2010, respectively, and will control 50% of the shipowning companies.