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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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