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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- White Energy Company Limited
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
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