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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
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