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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, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
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