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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bhushan Steel Limited - India
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