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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
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