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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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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
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