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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, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Australian Coal Association
- Carbofer General Trading SA - India
- White Energy Company Limited
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
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