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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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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
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