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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
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