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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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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- The University of Queensland
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- White Energy Company Limited
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
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