Poten News

Dorian LPG, International Seaways Ship Management LLC, Poten & Partners, d’Amico and TEN Ltd. all confirmed for the CMA Shipping 2024 Commodores’ Debate rounding off three days of thought-leading content from March 12-14 in Connecticut.A highlight of the Stamford-based show, the Commodores’ Debate brings past and present CMA Commodores together to discuss the key issues and opportunities facing shipowners today and in the future.Moderated by Marine Money’s Jim Lawrence, the debate will focus on the meaning of business excellence during a time of disruption and market volatility.

C-Suite leaders of ABS, Panama Canal Authority, BIMCO, INTERCARGO, IACS, DNV, Stena Bulk, Hapag-Lloyd, IBIA, International Seaways and many more have been announced for the conference lineup at CMA Shipping 2024.With just six weeks to go, eager anticipation is growing for the 39th edition of CMA Shipping taking place in Stamford, Conn., from March 12-14, 2024.The conference agenda promises to highlight pertinent issues surrounding the future of shipping, and how the industry can navigate challenges such as the energy transition, crewing and education, safety and compliance.

The number of U.S. liquefied natural gas (LNG) vessels transiting the Panama Canal to Asia halved in November compared with a year ago as Asia prices for the gas this week traded at their steepest premium to European prices in nearly two years.A severe drought has cut vessel traffic through the canal, increasing costs for shippers that take alternative routes or pay extra fees for auctioned slots in Panama. Further restrictions on canal transits likely will put more cargoes on lengthier routes…

U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record.Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.The U.S. was the world's largest exporter of LNG in the first half of this year, according to the Energy Information Agency, ahead of Qatar and Australia.

Spot-market rates for liquefied natural gas (LNG) tankers this week set annual records as traders bid up available vessels to meet rising global demand for the chilled gas, according to brokers.Soaring demand for LNG and buyers shunning Russian cargoes and vessels over its invasion of Ukraine have led to more long-term charters, limiting the supply of vessels to the spot market, said shipbroker and LNG consultancy Poten & Partners.The fire that knocked out the Freeport LNG gas-processing and export terminal has not affected the increase in spot rates, he said.

Europe last month remained the top destination for shipments of U.S. liquefied natural gas (LNG), according to Refinitiv data, outpacing exports to Asia for the second month in a row.About two-thirds of U.S. LNG volumes went to Europe last month, compared to around 61% in December when sky-high European prices and demand drove U.S. LNG exports to a record, Refinitiv data showed.In both months, a lack of supply drove demand and led to cargoes being re-routed from other destinations.

Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said.At least five Chinese firms, including state major Sinopec Corp and China National Offshore Oil Company (CNOOC) and local government-backed energy distributors like Zhejiang Energy, are in discussions with U.S. exporters, mainly Cheniere Energy and Venture Global…

Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said.Third-quarter supply is estimated to rise by 620,000 barrels per day (bpd) from the second quarter as China and Brazil increase production, according to consultancy Energy Aspects.This comes as inventories across key marine refueling hubs recently reached all-time highs, depressing bunker fuel prices and refiners' margins and dashing hopes for a profitable year for sellers of low sulfur fuel that

The Wuhan coronavirus outbreak has placed the shipping industry on high alert amid a rising death toll in China and reports that the fast-spreading illness is reaching new shores.The flu-like coronavirus, first identified in Wuhan, Hubei Province, China on December 31, has killed more than two dozen people in China and is believed to have infected more than 900 worldwide, according to several media reports. Cases have been confirmed in Beijing, Shanghai and Guangdong, and internationally in travelers returning from China to Japan…

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping and higher utilization of the global fleet.These underlying trends in the LNG commodity and shipping markets point towards a structurally tighter market through 2020 and into 2021.As of October 28, 2019, the LNG fleet and orderbook (excluding floating storage and regasification units (FSRUs) and vessels with capacity below 100,000 cbm) stood at 507 and 110 vessels, respectively…

The Panama Canal is a strategic crossroads for maritime traffic, and is arguably one of the most important maritime developments in the past century. Here we take a deeper dive into the history behind that famous strip of waterway.The present canal, which saw its first vessel transits in 1914, along with possible alternatives through Nicaragua and Mexico, had actually been on the minds of merchants, explorers and military/political strategists since the Age of Exploration in early 1500’s.

Global liquefied natural gas (LNG) demand was 86 million tonnes (mt) in the second quarter, compared with 74 mt in the second quarter of 2018, an increase of 16%, said GasLog Ltd.The Monaco-headquartered international owner, operator and manager of liquefied LNG carriers said that higher European imports (up 110% year-on-year) accounted for most of the growth, while demand from Northeast Asia (Japan, China, South Korea and Taiwan) was flat year-on-year, according to Poten.Natural gas prices were at multi-year lows in the second quarter of 2019 as the leveling off in demand growth from key LNG consumers in Northeast Asia coupled with elevated inventories and new LNG supply depressed LNG prices in Asia and Europe.However…

Global liquefied natural gas (LNG)  demand was 86 million tonnes (mt) in the second quarter, compared with 74 mt in the second quarter of 2018, an increase of 16%, said GasLog Partners, the international owner and operator of LNG carriers.Monaco-headquartered company quoted a Poten report which says that higher European imports (up 110% year-on-year) accounted for most of the growth, while demand from Northeast Asia (Japan, China, South Korea and Taiwan) was flat year-on-year.Natural gas prices were at multi-year lows in the second quarter of 2019 as the leveling off in demand growth from key LNG consumers in Northeast Asia coupled with elevated inventories and new LNG supply depressed LNG prices in Asia and Europe.Global LNG demand for 2019 is estimated at 351 mt…

“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level. As long as bigger is not in fact much better, then meaningful consolidation will not happen.”Dr. Roar Adland, visiting scholar at MIT Center for Transportation and Logistics and Professor at the Norwegian School of Economics (NHH).Like any other business…

Despite the liquefied natural gas (LNG) demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter, global LNG imports during the period totalled 88 million tonnes (mt), compared to 79 mt in the first quarter of 2018, or an increase of 11%, GasLog said quoting Poten.In particular, China’s LNG imports totalled 15.3 mt, 24% higher than the first quarter of 2018.Europe’s LNG imports in the first quarter more than doubled to 22 mt, compared to 10 mt in the first quarter of 2018, as lower LNG prices made gas fired power generation more competitive than coal, indigenous gas production declined and LNG gained market share from pipeline imports.

GasLog Partners, which owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters, said that the longer-term outlook for natural gas demand continued to strengthen in the first quarter of 2019.Despite LNG demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter, global LNG imports during the period totalled 88 million tonnes (mt), compared to 79 mt in the first quarter of 2018, or 11% growth, according to Poten.In particular, China’s LNG imports totalled 15.3 mt, 24% growth over Q1 2018. Europe’s LNG imports in the first quarter more than doubled to 22 mt…

Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018. The outlook remains robust, with Wood Mackenzie forecasting compound annual growth in global LNG demand of 6% between 2018 and 2025.This growth is expected to be broad-based…

Global financial and technology giant BGC Partners has completed the acquisition of Poten & Partners, a ship brokerage, consulting and business intelligence firm specializing in LNG, tanker and LPG markets.Under the terms of the agreement, BGC acquired 100 percent of Poten, which includes operations in New York, London, Singapore, Houston, Athens, Guangzhou and Perth, the company said in a statement.Founded over 80 years ago and with 170 employees worldwide, Poten provides its clients with valuable insight into the international oil, gas and shipping markets. Shaun D. Lynn, President of BGC Partners said: "The addition of physical LNG, LPG and tanker brokerage, and energy consulting capabilities will allow BGC to expand its operations in the oil, gas and shipping sectors.

34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan. Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be released from the Middle East and labour unrest affects loading programmes from West Africa. "I think a lot of owners have started to give up now. It's way too quiet - a lot of owners expected this week to be really busy but it has been dead quiet," a European supertanker broker said on Friday. "Owners are sitting on tonnage but there is no cargo," the broker added. Around 34 cargoes have been fixed for loading in the Middle East in the first 10 days in January, according to data on the Reuters Eikon terminal.

The shipping industry will this year scrap the largest number of oil tankers in over half-a-decade, driven by weak earnings, firm prices for scrap steel and the need to prepare fleets for strict new environmental regulations.The surge in scrapping underscores how the sector is grappling with one of its worst-ever crises, hit hard after rates for transporting oil plunged to multi-year lows in the wake of excess tanker supply and tepid demand as OPEC production cuts bite."The tanker markets are definitely in a trough at the moment…

The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping, have traditionally been massive, custom-built facilities that cost tens of billions of dollars. And so to justify the investment, they have typically required equally massive, long-term supply deals, often lasting a decade or more. Numerous terminal projects on the horizon, by contrast…

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month. Growth accelerated in 2017, with imports up by a fifth, largely due to China, but also South Korea and Japan. Asia's LNG market has been glutted since 2015, following massive development that began in the early 2000s.

The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia. But a growing number of shipping brokers and physical oil traders warn that any new influx of oil will hit a bottleneck in Vancouver, because of the port's inability to accept the megaships that dominate oil trade globally. This bottleneck marks one of the more under appreciated hurdles facing Canadian oil sands crude being shipped from its busiest port of Vancouver, these shipping brokers say. Middle Eastern producers already ship oil ship to Asia far more cheaply, thanks to the bigger vessels they employ. And U.S.