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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
 It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has brought the global economy to its knees, with borders closing, restrictions on imports being imposed and investors’ sentiment being devastated. The dry bulk market has not been immune to all this, with global trade having decreased considerably. However, it is worth taking a deeper examination as to what the major influence has been thus far, says Yiannis Vamvakas, Research Analyst of Allied shipping in his latest weekly report.
Yiannis Vamvakas further noted that, beginning with freight earnings, the year had already started on a sliding momentum in January, partially affected by the Chinese New Year festivities but also by the initial phase of the outbreak in China, but the truth is that a recovery was followed in most of the trade routes during February. However, that was only the beginning of the play as a fresh slump was soon to follow in March and April, leading the average TCE drop for all segments to below OPEX levels, putting owners under stress.
Analyzing each size segment separately, Yiannis Vamvakas said, we can note the following:
The average reduction in the Capesize market since the begging of the year has been 49% so far, while the average rate for 2020 thus far (US$5,746) is far below what was seen during the same period the past 2 years (US$8,231 in 2019 and US$12,686 in 2018), reflecting the severity of the hit.
In the Panamax sector, the YTD fall has been 34%, while the drop on the average TCE for 2020 has not been as severe, holding at US$6,937, while in 2019 the average was US$7,606 and in 2018 it was US$11,311.
For Supramaxes the YTD slide has been 45%, with the average for 2020 TCA holding at US$5,793, while the 2019 TCE was US$8,087 and 2018 TCE was US$10,921.
Finally, the drop since the beginning of the year in the Handy size segment has been 39%. The YTD 2020 average in this case has reached US$5,789, with the decline being more moderate compared to other sectors (US$ 6,077 in 2019, US$8,691 in 2018).
According to him, with regards to second-hand market activity for the dry bulk sector as a whole, there was also an important drop. This year we have seen approximately 107 dry bulk carriers changing hands, a drop of 33.5% compared to the respective activity of 2019 and 45% compared to 2018. The lack of interest from investors has been mainly witnessed during March and April, the period in which the pandemic was at its peak disruptive point in Europe and the US. The resilience in prices has also played a role here, with a resistance being noted as part of the consensus amongst most in the market that the effects of this crisis will just be temporary.
The ship recycling market has been hit hard as of late, though we were starting at fairly encouraging levels of activity leaving a figure of around 49 dry bulk units being sold for demolition this year, a remarkable feat given the closure of the market during most of April. It is worth mentioning that during the same 4-month period in 2019 we saw only 37 dry bulk vessels being recycled and 25 in 2018, said Yiannis Vamvakas.
Undoubtedly it has been a rough year for the dry bulk market so far, with the BDI falling into negative territory for the first time in its history, while Sale and Purchase activity has been trimmed as well, leaving little room for maneuvering. We do not expect things to magically change in the near future, but as major economies around the world start to reopen for business and sentiment starts to improve, the anticipation is for shift from negative to moderately positive to take place. However, as liquidity is stretched amongst some owners, further issues may start to arise, meaning that we are not in the clear just yet, he concluded.
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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Planning Commission, India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
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