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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, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
Friday, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
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Showing 2006 to 2010 news of total 6871 |
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- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
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