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