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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- PTC India Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Central Electricity Authority - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
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