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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- White Energy Company Limited
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
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