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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
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