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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, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- MS Steel International - UAE
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- The University of Queensland
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
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