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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
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