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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
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