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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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Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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