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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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Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- Indian Energy Exchange, India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
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