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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
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