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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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