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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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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
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