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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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Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
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Showing 1216 to 1220 news of total 6871 |
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- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
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