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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Latin American Coal - Colombia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
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