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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, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
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- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
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