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Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
 The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quarter of 2019 is now looking ever more likely to never materialize.
The drop noted in Chinese oil demand as part of the COVID-19 coronavirus outbreak, as well as several other factors, have all played a part in negatively affecting the market so far. Freight rates are clearly portraying this status quo, as the BDTI has fallen from the beginning of the year by almost 46%, while the average earnings for VLCC, Suezmax and Aframax units have plummeted by around 85%, 68% and 64% respectively, said Allied Ship brokers in its latest weekly report.
According to Allied Ship Broker, with major areas of China being under quarantine, the whole economy has slowed down significantly, affecting among others the demand for crude oil imports. It is estimated that demand has fallen by around 20% so far. The impact has been equally dramatic for the global oil industry, taking under consideration that today China is the biggest oil importer in the world, normally importing more than 10m bpd. This reduction of oil imports has also been reflected in port calls into China, with estimates showing a fall of approximately 20% to 30% noted in February. At the same time, refineries in China, as well as other countries, are slowing down operations in order to adapt to this curb in demand. According to the International Energy Agency, the situation will severely affect the market, with forecasts showing that the world’s demand for crude oil will decline in the first quarter of the year (first time in ten years).
Allied further noted that, the biggest exposure to this decline in demand is to be faced by Saudi Arabia, who is China’s largest supplier. However, this will not be limited there, as the recent “phase one” deal signed between the US and China stating that the latter would purchase from the US an additional $18.5 billion of energy products this year and $34 billion next year is now looking to be ever more an unrealistic target to reach. China may be the most significant headache for investors right now, but this is not the only factor that is dragging down tanker markets. Worries have shifted over to the supply side of the industry as well lately, after the decision by the US administration to lift sanctions off the Cosco Shipping Tanker (Dalian) Co. fleet. As a result, more vessels are now actively trading, during a period were fixing activity is already anemic. Things are however looking to be more positive on the side of oil production, with talks in Libya continuing and with the potential of a deal being reached, leaving for an additional 1 million bpd of crude oil to be introduced back into the market. Meanwhile, the oil rig count in the US, a factor reflecting the production of oil in the country has risen for a 3rd straight week, reaching a total count to 679. As a result, US shale production is expected to reach a record 9.2 million bpd next month. Adding to this, it is now rumored that both OPEC and Russia will not follow through with any further cuts in oil production right now. Closing on a positive tone, data from China is showing that new coronavirus cases in the country are starting to slow down, with some experts expecting a further decline in the spread growth of the virus taking place by end of March. This means that during the second quarter of the year, we may see a robust correction in the freight market, as importers in China will require to cover the “lost” period of production, leading to a significant temporary ramp up in demand for crude oil and thus for oil tankers.
Allied Shipping Research
Yiannis Vamvakas
Research Analyst
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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Parliament of New Zealand
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