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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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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Parliament of New Zealand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- MS Steel International - UAE
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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