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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, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
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- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Planning Commission, India
- Australian Coal Association
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
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