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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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Showing 906 to 910 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- MS Steel International - UAE
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
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