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