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