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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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Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
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Showing 3651 to 3655 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
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