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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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Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
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Showing 1011 to 1015 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Posco Energy - South Korea
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- ASAPP Information Group - India
- VISA Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
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