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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, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
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