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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, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
Tuesday, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
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Showing 1976 to 1980 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Planning Commission, India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
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