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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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Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
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Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
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