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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Australian Coal Association
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- PTC India Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
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