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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
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