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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
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