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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
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