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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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