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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
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