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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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- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The University of Queensland
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
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