We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
|
|
|
Showing 2306 to 2310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Deloitte Consulting - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
|
| |
| |
|
