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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, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- MS Steel International - UAE
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
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