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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
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