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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, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
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- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Planning Commission, India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
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