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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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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Planning Commission, India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
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