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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, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
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