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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Australian Coal Association
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Parliament of New Zealand
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
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