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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, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
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