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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, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
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Showing 1056 to 1060 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
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