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