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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- White Energy Company Limited
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
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- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
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- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Indian Energy Exchange, India
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- Minerals Council of Australia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
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