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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, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- The Treasury - Australian Government
- Parliament of New Zealand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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