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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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Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
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