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