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Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
 The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quarter of 2019 is now looking ever more likely to never materialize.
The drop noted in Chinese oil demand as part of the COVID-19 coronavirus outbreak, as well as several other factors, have all played a part in negatively affecting the market so far. Freight rates are clearly portraying this status quo, as the BDTI has fallen from the beginning of the year by almost 46%, while the average earnings for VLCC, Suezmax and Aframax units have plummeted by around 85%, 68% and 64% respectively, said Allied Ship brokers in its latest weekly report.
According to Allied Ship Broker, with major areas of China being under quarantine, the whole economy has slowed down significantly, affecting among others the demand for crude oil imports. It is estimated that demand has fallen by around 20% so far. The impact has been equally dramatic for the global oil industry, taking under consideration that today China is the biggest oil importer in the world, normally importing more than 10m bpd. This reduction of oil imports has also been reflected in port calls into China, with estimates showing a fall of approximately 20% to 30% noted in February. At the same time, refineries in China, as well as other countries, are slowing down operations in order to adapt to this curb in demand. According to the International Energy Agency, the situation will severely affect the market, with forecasts showing that the world’s demand for crude oil will decline in the first quarter of the year (first time in ten years).
Allied further noted that, the biggest exposure to this decline in demand is to be faced by Saudi Arabia, who is China’s largest supplier. However, this will not be limited there, as the recent “phase one” deal signed between the US and China stating that the latter would purchase from the US an additional $18.5 billion of energy products this year and $34 billion next year is now looking to be ever more an unrealistic target to reach. China may be the most significant headache for investors right now, but this is not the only factor that is dragging down tanker markets. Worries have shifted over to the supply side of the industry as well lately, after the decision by the US administration to lift sanctions off the Cosco Shipping Tanker (Dalian) Co. fleet. As a result, more vessels are now actively trading, during a period were fixing activity is already anemic. Things are however looking to be more positive on the side of oil production, with talks in Libya continuing and with the potential of a deal being reached, leaving for an additional 1 million bpd of crude oil to be introduced back into the market. Meanwhile, the oil rig count in the US, a factor reflecting the production of oil in the country has risen for a 3rd straight week, reaching a total count to 679. As a result, US shale production is expected to reach a record 9.2 million bpd next month. Adding to this, it is now rumored that both OPEC and Russia will not follow through with any further cuts in oil production right now. Closing on a positive tone, data from China is showing that new coronavirus cases in the country are starting to slow down, with some experts expecting a further decline in the spread growth of the virus taking place by end of March. This means that during the second quarter of the year, we may see a robust correction in the freight market, as importers in China will require to cover the “lost” period of production, leading to a significant temporary ramp up in demand for crude oil and thus for oil tankers.
Allied Shipping Research
Yiannis Vamvakas
Research Analyst
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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Australian Coal Association
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
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