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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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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
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- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
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