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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
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