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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Australian Coal Association
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
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