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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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Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
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