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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
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