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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, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
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