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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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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Dalmia Cement Bharat India
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