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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
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