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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.
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Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
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