PERTH/JAKARTA, May 27 (Reuters) – As China tries to cope
with what may be its worst power shortage in years, coal demand
from the world’s biggest consumer is likely to take centre stage
at one of Asia’s largest coal industry gatherings in Indonesia
China will face stiff competition for coal shipped by
Indonesia, the world’s biggest exporter of thermal coal, from
India where demand for electricity is rising in an economy seen
growing around 8.5 percent.
PERTH, May 24 (Reuters) – Australia’s thermal coal prices
moved up during the past week in a thinly traded market that saw
renewed interest from some Japanese buyers after a devastating
tsunami in March cut the nation’s coal demand.
Thermal coal on the globalCOAL Newcastle index for the week
to date was $120.69 per tonne on Monday, up from $115.88 a week
earlier, but market sources said the index represented a market
with very little liquidity.
PERTH (Reuters) – Shell is to anchor the world’s biggest ship — six times heavier than the largest aircraft carrier — off Australia to supply liquefied natural gas to energy-hungry Asia in a project likely to cost over $10 billion (6 billion pounds).
Royal Dutch Shell (RDSa.L: Quote, Profile, Research) expects to start chilling gas into liquid form from around 2017 aboard the Prelude floating LNG vessel, which will be longer than four soccer fields and will be built at a shipyard in South Korea.
PERTH/LONDON (Reuters) – The world’s first floating liquefied natural gas terminal will go ahead off Australia, operator Shell said on Friday, confirming its arrival as top flight gas exporter with access to the Asian market.
Australia has around A$200 billion (131 billion pounds) worth of LNG projects on the drawing board. The industry aims to triple current production to 60 million tonnes a year by 2020.
PERTH (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research) on Friday gave the go ahead to a $10 billion (6 billion pounds)-plus liquefied natural gas (LNG) project in Australia, set to be the world’s first floating LNG plant and targeted at soaring Asian demand.
The Prelude project, with a capacity of 3.6 million tonnes a year and which Shell expects to come online around 2017, would be the largest floating object in the world — longer than four soccer fields laid end to end.
PERTH, May 20 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) on
Friday gave the go ahead to its Prelude liquefied natural gas
(LNG) project in Australia, set to be the world’s first floating
LNG project and targeted at soaring Asian demand.
The project will have a capacity of 3.6 million tonnes a
year. Shell’s upstream investment in Australia would reach some
$30 billion over the next five years, the company said in a
PERTH, May 19 (Reuters) – Rio Tinto , the
world’s second-largest iron ore producer, expects global prices
to stabilise in the September quarter after a volatile start to
the year and sees only a small change in its quarterly price.
Rio Tinto expects iron ore prices in the September quarter
to vary by only around 1 percent compared with the June quarter,
Sam Walsh, the firm’s iron ore chief told Reuters on Thursday,
underscoring a tight supply and demand balance.
“We are seeing continuing growth in the market,” he said on
the sidelines of a meeting with Treasurer Wayne Swan, referring
to global demand for the steel-making raw material.
Walsh’s assessment of market conditions is in contrast with
signs of slow buying from top consumer China as steel mills
there work off stockpiles of ore amid a slow down in steel
“(Price movements) indicate that we will continue with very
high prices which really are signifying that the market
continues to be tight,” Walsh said.
PERTH, May 17 (Reuters) – Australia’s thermal coal prices, a
benchmark for Asia, dropped sharply during the last week,
pressured by a lack of demand and a switch to lower-quality
coal, trade sources said on Tuesday.
Thermal coal on the globalCOAL Newcastle index closed at
$115.88 per tonne for the week to date on Monday, down from
$121.13 a week earlier.
PERTH, April 29 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, rose slightly in the week to Friday, while
in China coal buying began to ramp up on power demand as summer
Australia’s thermal coal prices on the globalCOAL weekly
index, a benchmark for Asia, closed at $122.23 per tonne for the
week to date on Thursday, up from $121.48 a week earlier.
By Rebekah Kebede and Edward Mcallister
PERTH/NEW YORK, April 28(Reuters)- Asian spot prices of liquefied natural
gas were seen around $12.30 per million British thermal units (mmBtu) this week,
with the high-demand summer months approaching and buying from Japan, China, and
other Asian nations expected to ramp up.
Japan, the world’s largest LNG importer, is facing mostly
hotter-than-average weather from May to July, raising the prospect of power
supply problems as it struggles to keep the electricity on in the wake of last
month’s massive earthquake and tsunami.