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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, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
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