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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- White Energy Company Limited
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- PTC India Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
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