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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
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