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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
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