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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, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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