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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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- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
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