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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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Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
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- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Planning Commission, India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
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