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