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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, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- PTC India Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
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