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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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Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
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- Trasteel International SA, Italy
- Aditya Birla Group - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
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