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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Minerals Council of Australia
- Economic Council, Georgia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Planning Commission, India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
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