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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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Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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