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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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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Independent Power Producers Association of India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
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