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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, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
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