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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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