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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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- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
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