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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, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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Showing 3416 to 3420 news of total 6871 |
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- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
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