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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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Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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Showing 1026 to 1030 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
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