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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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Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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 ...
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- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
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