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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, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
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Showing 1996 to 2000 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
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