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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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Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Australian Coal Association
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
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