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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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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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