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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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- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
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