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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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Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
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- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
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