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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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Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
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- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
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