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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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Showing 1421 to 1425 news of total 6846 |
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- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Planning Commission, India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
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