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Monday, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
 COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX in its latest note.
SGX, Singapore Exchange represents the premier access point for managing Asian capital and investment exposure, and is Asia’s most international exchange with more than 40% of companies listed on SGX originating outside of Singapore.
SGX further said, the 30-day annualised volatility of the Baltic Dry Index has surpassed 50%, versus a Q3 average of 37%. This spike in volatility has been primarily driven by Capesize rates, with the Baltic Capesize Index 30-day annualised volatility averaging a staggering 138% so far this month.
According to SGX, year-to-date, the benchmark iron ore price has fallen 48% while thermal coal prices have also steadily declined through the course of the year. Freight rates meanwhile have been extremely volatile, but on average holding well at higher levels. As a result, freight rates have become a much more significant component of delivered iron ore and coal prices.
"In January 2014 for example, the C5 route (Western Australia to China) averaged less than 7% of the benchmark delivered iron ore price into China. At present, the same route makes up more than 13% of the delivered iron ore price. Falling bulk commodity prices have led freight to become a relatively more important consideration along the commodity value chain, and with volatility spiking, effective freight risk management tools have become all the more important," said SGX.
The dry bulk freight market is often subject to severe seasonality, with typically stronger demand through Q4. Iron ore, coal and steel account for about 60% of total dry bulk tonne-miles, according to Clarksons. Seasonality within the seaborne iron ore and thermal coal markets therefore has a significant impact on the dry bulk freight market, as noted by SGX.
SGX further said, Iron ore usually sees strong seaborne trade volumes during Q4 as producers look to maximise exports ahead of seasonal weather-related supply disruptions that often occur in Q1, while the Chinese steel industry typically restocks steelmaking raw materials ahead of the cold winter months/Chinese New Year. Over the past three years, Brazilian and Australian iron ore shipments have on average risen in Q4 (versus Q3) by 9% and 6%, respectively. Thermal coal also usually experiences higher seaborne volumes towards year-end in anticipation of winter as power supply companies look to build inventory. In the past three years, Indonesian and Australian thermal coal exports have on average risen by 17% and 5% respectively in Q4.
With relatively inelastic supply in the dry bulk freight market, these seasonal demand fluctuations can lead to heightened price volatility, and in past years freight rates have often risen in Q4. Indeed, recent prices rises in Capesize and Panamax rates are indicative of such seasonality. That said, uncertainty remains over whether we will see typical seasonal impacts sustained over the coming months. Reasons for such uncertainty and potentially unseasonal trends may include: (i) tight credit availability and ample iron ore port inventory in China, which may limit the degree of seasonal restocking; (ii) Chinese coal imports are declining, and government regulations appear supportive of this trend; and (iii) meteorologists are suggesting a high probability of an El Nino event this year, which may mean drier than usual weather in Australia and Indonesia, and potentially therefore lower than normal weather-related supply disruptions, concluded SGX.
According to SGX, it is managing both commodity & freight on one platform; capital efficiencies through margin optimisation
SGX uniquely provides effective risk management tools to manage both the underlying bulk commodity and freight rate exposures together on the same platform. Furthermore, with all products on one platform SGX is able to offer highly competitive intra-commodity margin offsets. With a range of margin credits across different freight products as well as intra-commodity margin offsets between freight and iron ore, SGX provides a unique value proposition for the clearing of freight and bulk commodity derivatives.
For more details about SGX please click here to visit its official website.
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Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Australian Coal Association
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
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