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Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
 Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China dropping 68% in just nine days (from USD 222,591 per day on 22 April to USD 71,885 per day on 4 May). In the same period, daily VLCC earnings from the Middle East Gulf to the US Gulf have plunged nearly 80% (from USD 162,433 per day to USD 36,249).
The window of extraordinary earnings closed at the end of April with the OPEC+ oil production cuts of 9.7 m/bpd on 1 May, reducing the flood of oil in the market. The tanker market is now challenged by a collapse in oil demand as a result of the coronavirus outbreak.
The oil supply and demand shocks of 2020
The oil tanker market has enjoyed a paradise of profitability, but very much on borrowed time since the outbreak of the oil price war. As the oil supply shock abates, the effect of the unprecedented oil demand shock, estimated to be a drop of 23.1 m/bpd in the second quarter (source: IEA), will set in.
Perhaps, second only to a coronavirus vaccine, oil storage has been the most sought-after item in recent months. This has been reflected in the skyrocketing crude oil tanker time-charter rates brought about by oil suppliers and traders seeking to charter ships for floating storage.
The uptick in floating storage in 2020, temporarily removing capacity from the market, is not expected to provide a silver lining that can offset the faltering demand and overcapacity. One can only hope that the strong earnings have fortified the cash reserves of oil tanker companies for the treacherous months that lie ahead.
Source: BIMCO
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Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
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