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