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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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Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Commonwealth Bank - Australia
- GMR Energy Limited - India
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