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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Indonesian Coal Mining Association
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