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Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
 Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China dropping 68% in just nine days (from USD 222,591 per day on 22 April to USD 71,885 per day on 4 May). In the same period, daily VLCC earnings from the Middle East Gulf to the US Gulf have plunged nearly 80% (from USD 162,433 per day to USD 36,249).
The window of extraordinary earnings closed at the end of April with the OPEC+ oil production cuts of 9.7 m/bpd on 1 May, reducing the flood of oil in the market. The tanker market is now challenged by a collapse in oil demand as a result of the coronavirus outbreak.
The oil supply and demand shocks of 2020
The oil tanker market has enjoyed a paradise of profitability, but very much on borrowed time since the outbreak of the oil price war. As the oil supply shock abates, the effect of the unprecedented oil demand shock, estimated to be a drop of 23.1 m/bpd in the second quarter (source: IEA), will set in.
Perhaps, second only to a coronavirus vaccine, oil storage has been the most sought-after item in recent months. This has been reflected in the skyrocketing crude oil tanker time-charter rates brought about by oil suppliers and traders seeking to charter ships for floating storage.
The uptick in floating storage in 2020, temporarily removing capacity from the market, is not expected to provide a silver lining that can offset the faltering demand and overcapacity. One can only hope that the strong earnings have fortified the cash reserves of oil tanker companies for the treacherous months that lie ahead.
Source: BIMCO
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Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
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