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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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Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Parliament of New Zealand
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
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