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