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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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Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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Showing 1071 to 1075 news of total 6871 |
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- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- White Energy Company Limited
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
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