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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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Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Romanian Commodities Exchange
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
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