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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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Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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