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