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SINGAPORE: Commodities exchange SMX to start trading on August 31
Monday, 30 August 2010

(EnergyAsia, August 30 2010, Monday) ---Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, said it will begin trading on August 31.

The first phase of product launches will include a gold futures contract with physical delivery in high-security vaults in Singapore, West Texas Intermediate (WTI) crude oil, Brent-Euro crude oil and Euro-US Dollar futures contracts, amongst others. The first phase of product launches will be followed by multiple product launches to be introduced in the market after consultation with industry participants.

With rapid economic expansion in the region and Asia’s demand for commodities, SMX is strongly positioned to offer an integrated and single-platform for multiple products.  It has completed conformance testing with Independent Software Vendors (ISVs) and industry-wide testing with member firms prior to its impending launch.

Jignesh Shah, SMX’s vice chairman and Group CEO of Financial Technologies Group, said:

“SMX’s platform will herald Asia’s first stand-alone and next-generation global derivatives exchange for unrestricted cross-border trading in futures, options and other derivatives across multiple asset classes. We are looking forward to our newest venture to establish a footprint for transparent electronic trading that will manifest itself as a major platform for price discovery for commodities trading in Asia. SMX is well poised to unlock the immense potential of Asia and further position the region as a leading derivatives trading hub.”

Thomas J. McMahon, SMX’s CEO, said: “We are witnessing Asia’s expanding influence on the global commodities market. SMX’s launch is a step in the right direction as we leverage off Singapore’s unique position as a premier financial and commercial hub in the region. The launch will provide market players in Asia the flexibility to trade products generic to regional trade flows within the Asian business day.”

The Monetary Authority of Singapore (MAS) recently granted SMX ‘Approved Exchange’ status to operate as a regulated and fully licensed exchange.
 
PEOPLE: Hoekstra, President of Asia division, to succeed Broeders as new Royal Vopak chairman
Monday, 30 August 2010

(EnergyAsia, August 30 2010, Monday) --- Dutch oil logistics giant Royal Vopak N.V. said Eelco Hoekstra, president of its Asia division, will be succeeding John Paul Broeders as chairman of its executive board on March 1 2011. Mr Broeders has been appointed chairman of the board of SHV Holdings.

Having worked with the company since 2003, Mr Hoekstra was the managing director of Vopak Horizon Fujairah (UAE), Latin America division president and currently the Asia division president. He previously held senior management positions with different tank storage companies in Asia and South America.

Mr Hoekstra, who is joining the board immediately, will be supported by the current executive board members including Jack De Kreij who will be the vice-chairman and Frits Eulderink.

The company added that with Mr Hoekstra’s appointment, the commercial, financial and operational domains will be represented in a balanced way in the executive board.

The proposal to appoint Eelco Hoekstra will be presented at an extraordinary shareholders meeting to be held soon.

Royal Vopak is the world’s largest independent tank storage service provider, specialised in the storage and handling of liquid chemicals, gasses and oil products. The company operates 80 terminals with a combined storage capacity of more than 28 million cubic meters in 31 countries.
 
SINGAPORE: POWER-GEN Asia to gather industry professionals at the Marina Bay Sands in November
Wednesday, 25 August 2010

(EnergyAsia, August 25 2010, Wednesday) --- POWER-GEN Asia, the conference and exhibition for the power generation and transmission and distribution industries, will be held at the recently opened Marina Bay Sands resort in Singapore from November 2 to 4.

Organised by Pennwell Corporation, the event, will be a headline event for the Singapore International Energy Week, jointly organised by the state agency, Energy Market Authority (EMA), and Energy Studies Institute.

POWER-GEN will be held at the same venue as the Renewable Energy World Asia conference, an event dedicated to the renewable and sustainable energy sector.

Leading international speakers from the region and will be discussing key issues facing the industry, economy and environment at the POWER-GEN conference. Issues discussed include market trends, financing, environmental protection and operational efficiency. A panel will discuss the impact of China and India on the industry’s fuel supply, costs and environmental impact on the region. The panel members include Mark Hutchison (IHS CERA), Torbjorn Kjus (DnBNOR Markets), and Neil McGregor (Chevron International).

The conference will include technical sessions to discuss product developments including plant technology, optimisation and operations. Speakers include Reinhard Kloster (Siemens AG), Pierre Gauville (Alstom), Takayoshi Isoda (Mitsubishi Heavy Industries), and May Kwong Han (ABB).

Singapore’s Minister for Trade and Industry, Lim Hng Kiang, will open the conference on November 2, followed by the keynote session giving a strategic overview of the industry.

The POWER-GEN exhibition will feature displays on the latest technologies, products and services for the power sector.

The event is supported and endorsed by the EMA, Power Seraya, Tuas Power, Institute of Engineers Singapore and the National University of Singapore (NUS).

In affiliation with NUS, POWER-GEN Asia will be offering a discounted rate for students to attend the conference.

For more information on POWER-GEN Asia, please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
SINGAPORE: PEC received record seven safety and health awards from Workplace Safety and Health Counc
Friday, 13 August 2010

(EnergyAsia, August 13 2010, Friday) --- PEC Limited, a Singapore-based specialist engineering group servicing the oil, gas, petrochemical and pharmaceutical industries, has received a record seven awards from the Workplace Safety and Health (WSH) Council.

Classified under the Safety and Health Award Recognition for Projects (SHARP) category of the WSH Awards 2010, the awards recognise PEC for contributing to achieving excellence in workplace safety and health at seven job sites.

The company excelled on several projects sites including the Bukom Refinery Modification Project, Ethylene Cracker Complex Project, maintenance for GlaxoSmithKline, PAC Site, Pulau Bukom Site, Singapore Chemical Plant, and Singapore Refining Company Site.

Supported by the Ministry of Manpower (MOM), the SHARP awards specifically recognise projects or worksites that have good safety and health performance, as well as workplace safety and health management systems.

SHARP winners achieved the following: either no reportable accident in 2009 or at least one million man-hours with no reportable accident; no new occupational disease, stop-work orders, or accidents that caused death or permanent disablement from Jan 1 2009 to date; and an injury rate below 25% of the industry rate.

Wong Peng, managing director of PEC, said: “With a high level of activity, we are proud to have maintained a strong safety record in 2009. It is a great achievement for us to be awarded seven SHARP awards, which is an important recognition of the dedication and attention our staff put into their job, and a strong testament to their hard work and commitment to safety.

“Safety is our number one priority, and as pleased as we are with our performance, we will continue to strive to consistently create and maintain an incident and injury-free work environment where ‘Nobody Gets Hurt’.”

Founded in 1982, the PEC is working on projects in Singapore, Malaysia, Thailand, Indonesia, Vietnam, China and the Middle East. PEC also has fabrication facilities in Singapore, Malaysia, Indonesia, Thailand and China.
 
CONFERENCE: Bulk liquid chemicals event in China on September 9 to 10
Friday, 13 August 2010

(EnergyAsia, August 13 2010, Friday) --- The 3rd Asia Bulk Liquid Chemicals Shipping & Storage Conference 2010 to be held in Shanghai, China on September 9-10, will focus on industry trends and new opportunities in the liquid chemical marketplace.

Organised by CBI Events, the event will gather leading industrial players, tanker ship owners and logistics service providers from the US, Russia, Singapore, Japan, Korea and China.

The conference will highlight four themes: “Headstream of Shipping & Storage: Digging the macro-economy and petrochemical market to grasp the essence of bulk liquid chemicals shipping and storage”; “Soul of Shipping: Studying the shipping freight and fleet capacity trends”; “Ways of Efficiency: Utilising third party services to maximize efficiency”; and “Road for Terminals: Keys to the bottleneck of terminals and seeking the way for their future”.

The four themes will be discussed through a variety activities like CDI workshop, vis-à-vis networking, business matching, panel discussion, and networking luncheons.

This year’s conference is sponsored by the Chemical Distribution Institute (CDI), and supported by the China Association of Warehouses and Storage (CAWS).

Soo Tan of Celanese Chemical Company said of last year’s conference: “Keynote speeches, panel discussions and one-to-one meetings are very helpful. I look forward to the next conference.”

Previous speakers and panelists included Martin A Whittle, general manager, Chemical Distribution Institute (CDI); Capt Luc Cassan, global vetting manager, BASF Antwerp; Zhang Yunliang, senior project manager, Sinochem International Corporation; Jonathan Xu, business development vice president, Vopak China Management Co; Chen Chuan Hsien, deputy director of storage and transportation, CPC Corporation, Taiwan; Chua Chye Poh, executive director, Eastport Maritime; and Michele Francioni, general manager for Asia Pacific, Registro Italiano Navale (RINA).
 
CONFERENCE: APCIO coal event to discuss China’s shift to net importer status, Asia’s coal industry
Thursday, 12 August 2010
(EnergyAsia, August 12 2010, Thursday) --- The 4th Asia Pacific Coal Trading & Investment Outlook 2010 (APCIO 2010) in Shenzhen on September 28 and 29 will focus on the impact of China’s shift to net importer status and the changing pattern of imports of Asia’s main coal consuming countries.

Under the theme of “New Pattern, New Opportunity”, APCIO 2010 will also discuss changes in the global coal trade on regional markets, supply-demand balances, risks and opportunities in coal mine investment, infrastructure and logistical issues, the outlook for coal-generated electricity, and government policies.

Some of the event’s key speakers include M.S. Marpaung, director of mineral and coal enterprises, Indonesia’s Department of Energy & Mineral Resources; Supriatna Suhala, executive director of Indonesia Coal Mining Association, and executives from Indonesia’s five biggest coal producers to discuss the country’s coal supply capacity and investment opportunities.

This CBI-organised event is expected to attract over 500 delegates from at least 12 countries including Indonesia, Australia, Vietnam, Russia, Mongolia, US, Canada, South Africa, India, Japan, Korea and China.

The APCIO series has been successfully held for the past three years with support from the China Coal Transport and Distribution Association, Indonesia Coal Mining Association, Mongolian Coal Association and CoalinQ.
 
CHINA: World’s second largest economy has replaced US as biggest energy consumer
Friday, 06 August 2010

(EnergyAsia, August 6 2010, Friday) --- By Darrell Delamaide for OilPrice.com. 

China has overtaken the US as the world’s biggest consumer of energy in the most tangible evidence yet of the coming dominance of the Chinese economy.

According to data from the International Energy Agency (IEA) in Paris, China consumed 2,252 million tons of oil equivalent in 2009, about 4% more than the 2,170 tons consumed by the US.

While China was forecast to overtake the US in energy consumption eventually, the changing of the guard has taken place sooner than expected largely because the global recession hit the US much harder than it did China.

The news is likely to make energy markets more sensitive than ever to economic developments in China as prices fluctuate according to expected demand in that economy.

“The fact that China overtook the US as the world's largest energy consumer symbolizes the start of a new age in the history of energy,” Fatih Birol, chief economist of the Paris-based IEA, said in an interview with The Wall Street Journal.

According to Birol, the US had been the biggest energy consumer for more than a century. The measurement of oil equivalent includes all sources of energy – all fossil fuels, renewable and alternative energies.

The US remains the biggest consumer of energy on a per capita basis, Birol said, using five times as much energy as China by that measure.

China relies heavily on coal to generate much of its energy, and is one of the world’s biggest importers of coal as well as one of its biggest producers. But China has been scouring the globe for energy deals in oil and gas – in Africa, Australia, Latin America and wherever it can secure long-term energy supplies. It is also pushing ahead with development of unconventional oil and gas resources at home as well as renewables like sun and wind.

A decade ago, the US consumed twice as much energy as China, Birol noted in other press interviews. The shift in relationship is due in part to increased energy efficiency in the US.

The IEA, which produces data and reports for countries in the Organisation of Economic Co-operation and Development (OECD), has urged China to join the energy group even though it does not belong to the OECD.

In a separate development, China has been confirmed by various economists to have overtaken Japan as the world’s second largest economy.

REFERENCE: 

http://oilprice.com/Energy/Energy-General/China-Has-Replaced-U.S.-As-Biggest-Energy-Consumer-IEA-Says.html
 
INDONESIA: Graig opens Batam Island anchorage site, bunkering services included
Friday, 06 August 2010

(EnergyAsia, August 6 2010, Friday) --- Graig Ship Management (GSM), a subsidiary of UK-based shipowning and shipping services conglomerate Graig Group, said it has opened a deep water anchorage site at Batam in Galang Bay off Indonesia’s Galang Island to provide safe and secure anchorage for all vessel types.

Close to trade routes and airports, the serviced anchorage is suitable for hot and cold lay-up, maintenance, survey, underwater cleaning and tank cleaning and is fully supported with relevant services.

Aside from its safe distance from typhoon-prone areas, the company said the site is also protected from piracy, theft and vandalism thanks to security services employed by GSM.

Geoff Hutcheon, general manager of Graig Services (Singapore), said: “Traditional lay-up sites and anchorages remain congested. Graig has a very good relationship with the Indonesian authorities and has onsite Indonesian partners so we have been able to develop this mooring site into an excellent area for lay-up and general services.

“We can offer lots of advantages to owners and GSM is able to support the whole process from planning through to lay-up and reactivation. GSM’s agreement with Indonesian partners BDP means costs are competitive. With us, one fixed monthly fee covers a safe mooring, port dues, dehumidification, 24/7 watchmen, routine tasks and maintenance, reporting and record keeping.”

GSM will provide a full range of services, including risk assessment, safe mooring, a lay-up plan and preparation advice, provision of equipment including generator, a workboat, warehouse facilities, crew repatriation, garbage disposal, FW and bunkers and a full re-activation service.

Owners can also use GSM’s serviced anchorage as a safe and secure area to wait for cargo, complete maintenance or cleaning or undergo surveys. Superintendents and crew can be accommodated in air-conditioned chalets on the beach overlooking the bay.

From a purpose-built tower, the bay will be constantly monitored through electronic tracking and close radio communication.

Mr Hutcheon said: “Graig has a strong group of expert senior managers who have been project managers in the building of modern ships and who really understand how a ship is put together and works. That sort of knowledge is rare, and it is vital to knowing how to safely lay-up a ship. It is no use laying-up a ship safely if when reactivated it gives problems. That’s where owners using Galang Bay and GSM will benefit.

“GSM has a good site, a good local partner, security, low costs and we have the expertise to pull it all together for owners seeking lay-up or other services in a safe, serviced anchorage.”

Founded in 1919, the Graig Group provides technical and commercial ship management, newbuilding supervision, lay-up services, ship design, ship owning and ship finance to global clients. The group has supervised over 120 newbuildings for itself and major shipowners, and provides technical consultancy services to a major European bank with a portfolio of 90 vessels.
 
AUSTRALIA: Santos executes A$2 billion bilateral bank facility
Monday, 02 August 2010

(EnergyAsia, August 2 2010, Monday) --- Australian oil and gas producer Santos said it has executed a A$2 billion loan facility from nine banks to refinance its existing S$700 million of undrawn bilateral bank facilities maturing between 2011 and 2013. (US$1=A$1.2).

Santos executive vice president and chief financial officer Peter Wasow said the facility will provide increased liquidity during the scheduled construction period of its Gladstone (GLNG) and Papua New Guinea (PNG) LNG projects and delivers average maturities beyond the first production from the two projects.

The company said the facility was self-arranged and attracted total offers of A$2.9 billion from 13 banks. Offers from nine banks, which amounted to A$2 billion, were accepted with tenors ranging from four to seven years. The weighted average of the new facility is five years.

Mr Wasow said: “The strong support we received from existing and new lenders demonstrates the strength of the Santos business and financial profile. With this new facility, Santos will have A$6 billion of available funding capacity, including cash and committed corporate and project debt facilities. “

Santos said it has a long term rating of BBB+ from Standard and Poor’s.
 
SINGAPORE: KPI Bridge Oil Singapore relocates to central district
Monday, 02 August 2010

(EnergyAsia, August 2 2010, Monday) --- Leading global bunker broker and trader KPI Bridge Oil Singapore Pte Ltd, a fully owned subsidiary of the London-based KPI Bridge Oil Group, has moved its offices to 1 Raffles Place in the heart of downtown Singapore.

Due to the steady growth and expansion of its bunker brokering and trading operations, the company has outgrown its previous facilities and has moved to a more central location.

KPI Bridge Oil Singapore said it expects to increase the size of its trading teams over the coming months.

Kelvin Yeo, KPI Bridge Oil Singapore’s managing director, said:

“The company has a strong reputation as a reliable and expert partner in the Asian bunkering market and has in recent years successfully established itself as one of the major players in Singapore. With 3,300 square feet of modern office facilities in central Singapore we have got the facilities to create a great working environment and platform for our trading teams and also suitably accommodate the planned future growth of the company.”

Jan Obel, KPI Bridge Oil Group’s CEO, said: “We are very pleased with the consistent strong performance and growth of the Singapore office and we’re continuing to look for more experienced traders to join the established teams. I believe that the Asian market offers great opportunities for growth and for the company to expand further in 2010 and beyond.”

With a strong maritime foundation dating back to 1971, KPI Bridge Oil Group has a global team of more than 65 experienced professionals, including more than 45 bunker brokers and traders.

The group supplies bunker and lube oil in over 2,800 ports worldwide for the international shipping industry, covering all major time zones 24 hours a day.
 
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