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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, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
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