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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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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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Showing 3506 to 3510 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Australian Coal Association
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
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