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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, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
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