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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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Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- ASAPP Information Group - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
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