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.
|
|
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
|
|
|
Showing 1131 to 1135 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- The University of Queensland
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
|
| |
| |
|
