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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, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
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- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
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