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