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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. Undoubtedly it was a very interesting quarter with a significant freight boom taking place earlier in the year, tensions among oil producers creating volatile market conditions and the COVID-19 pandemic reshaping the global economic environment said Yiannis Vamvakas, Research Analyst of Allied Shipping in his latest weekly report.
Yiannis Vamvakas further noted that, the truth is that the recent developments as part of the pandemic have affected the whole global economy, diminishing demand for several oil products which in turn has started to show a slight trend in crude oil itself. Looking just at the BDTI index, we can see on absolute terms that the quarterly loss was 12.7%. This is a disappointing figure, Yiannis Vamvakas said, but not devastating especially when it is compared to the dry bulk market, proving that the oil market was able to resist the effects of the global economic downhill that is being witnessed. Adding to this, we noted that both the VLCC and Suezmax TCA have gained 164.4% and 37.7% respectively on a quarterly basis. It seems as though that had it not been for the catastrophic February, things may have been even better for the crude oil tanker segments.
The price war between oil producers has pushed Brent and WTI to record lows, helping demand remain healthy even under the current circumstances, while several tankers have been “taken out” of the global fleet in order to be used as storage. In contrary to all of this, we should note that the Aframax TCA moved in the opposite direction this past quarter, losing about 30.8%. Given that oil price is not expected to move significantly upwards in the coming months (obviously not considering any major shift in production plans of the main oil producers), we are anticipating interest from the charterers’ side to remain intense during the start of the 2nd quarter. Adding to this the glimpse of optimism reflected in the rebound noted in European stock markets on the back of the stabilization seen in the COVID-19 spread, and you could have the basis for a gradual improvement to take place.
Research Analyst of Allied Shipping further noted that, on the supply side, we have seen the global tanker fleet increase by 53 units during 1Q20, with 23 of them being crude oil carriers. This quarterly rise is around 1%, an encouraging figure when compared to the respective fleet expansion of 2.63% noted in 1Q19. On the supply side things remain positive for now, with interest for new-building orders having eased back as of late. However, it is likely that this trend will shift in the near future, as ship recycling activity will now be minimal due to the COVID-19 lockdown measures taken in the Indian Sub-Continent, while at the same time this pause noted in newbuilding activity is expected to be temporary. On the positive side though the orderbook to vintage fleet ratio (a figure that depicts the potential additions compared to potential demolition candidates) holds at fairly good levels. The ratio now holds for the VLCC segment at a mere 13.33%, for the Suezmax 24.00% and for the Aframax 7.89%, the lowest points noted the last 5 years.
Taking into consideration the resilience that crude oil tanker market has shown so far, we anticipate the market to remain on a positive track in the coming quarter, even if there are some signs of volatility emerging. The low-price of oil, the potential that the worst is now behind us and the healthy status of the supply side, all leave space for optimism. However, as we are deliberating on a market that is largely exposed to geo-political events and highly linked to the global economy, it is essential to remember that there could always be another “blank swan” hiding around next turn.
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Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
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