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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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- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
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