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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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- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
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