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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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