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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
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