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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
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