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