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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
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