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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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Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
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