We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
 After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the developments regarding the pandemic outbreak and geopolitical tensions to the challenges that the sector is now facing. The considerable slowdown in momentum is evident on rates across the board, with expectations for the remainder of the year being gloomy so far.
During the past months, the steep drop in oil products demand caused by COVID-19 had been overshadowed by the developments on oil supply and prices. When Russia and Saudi Arabia, two of the biggest oil producing countries, engaged in a price war back in April, they flooded the market with millions of extra barrels each day, pushing prices to unprecedented lows. At the same time, demand was collapsing. Contango markets were shaped and encouraged traders to buy and store oil on shore and on vessels like never before. Tonnage availability was tight and freight rates climbed to record levels. Indicatively, VLCC earnings reached as much as USD 280,000 per day during April, whereas the ‘clean’ products trade of LR2 and LR1 ships reached about USD 170,000 per day and USD 115,000 per day respectively.
However, since then, the market woke up to reality of poor demand for products globally, while at the same time the contango play is no longer attractive with oil prices having moved up to much healthier levels. More and more vessels used as storage are now entering the market, when at the same time refineries around the world are cutting production in order to adjust to poor demand. The effects on the freight market are already evident. At the time of this writing, VLCCs are earning USD 40-50,000 per day, LR2s about USD 20,000 per day and LR1s as low as USD 10,000 per day.
Taking into account that oil products account for about 60% of the transportation demand and that many parts of the world are still under lockdown and face travel restrictions, the outlook for the rest of the year is rather challenging. The Energy Information Administration (EIA) estimates that global oil demand will be about 8m bpd lower in 2020 than last year. Major products’ demand such as gasoline and jet fuel are down about 17% and 60% respectively since the beginning of the year and the recovery appears to be slow. In shipping terms, this would be more than 6% decrease in demand for product tankers this year, while the fleet growth in the sector is expected to be about 0.7%.
It seems that for as long as the economic impact from the pandemic keeps unravelling, global demand will remain restricted and uncertainty will keep prevailing in the tanker market, adding more pressure to freight rates as a result.
By Stelios Kollintzas
Tanker Chartering Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
|
|
|
Showing 656 to 660 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
|
| |
| |
|
