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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- MS Steel International - UAE
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
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