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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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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Marubeni Corporation - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
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