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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Australian Coal Association
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
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