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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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- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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