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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, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
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