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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
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