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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
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