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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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- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
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