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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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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
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- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
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