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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, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
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Showing 1056 to 1060 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- White Energy Company Limited
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