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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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Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Australian Coal Association
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
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