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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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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Parliament of New Zealand
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
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