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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, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- PTC India Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Planning Commission, India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- The University of Queensland
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
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