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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, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- MS Steel International - UAE
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
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