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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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Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
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