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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, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
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- Planning Commission, India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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