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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
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