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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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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
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