We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
|
|
|
Showing 1056 to 1060 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petron Corporation, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
|
| |
| |
|
