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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, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- White Energy Company Limited
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
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