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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
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