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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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Tuesday, 31 March 20
COAL POWER REMAINS IN GLOBAL DECLINE, DESPITE CHINESE SURGE - SYDNEY MORNING HERALD
The impact of coronavirus has prompted a surge in coal-fired power plant construction permits in China, with the Chinese government issuing more pe ...
Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
KNOWLEDGE TO ELEVATE
Countries around the world are strengthening their border control measures in order to prevent the further spread of COVI ...
Monday, 30 March 20
LAY-UP AND RE-ACTIVATION REVISITED - GARD
KNOWLEDGE TO ELEVATE
The COVID-19 pandemic has affected the maritime industry in previously unthinkable ways. Ports around the world are denyi ...
Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
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- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
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