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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- White Energy Company Limited
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Economic Council, Georgia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
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