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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
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