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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, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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 ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
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