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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
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