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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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Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- MS Steel International - UAE
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
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