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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Indonesian Coal Mining Association
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