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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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Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
Friday, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
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Showing 3006 to 3010 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Commonwealth Bank - Australia
- PTC India Limited - India
- The University of Queensland
- Planning Commission, India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
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