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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, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
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