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Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
 COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the year, SGX says in its “ Commodities 2014 - A year of the bear” report.
According to SGX, the Capesize market was the most volatile, with average 30-day annualized volatility of 83%. While seaborne iron ore demand was strong, the market was hampered by weaker coal trade, negative macro news, tighter credit in China, and lower Indonesian exports among other factors. Looking forward, a continued high order book (relative to historical standards) paints a relatively cautious picture for the year ahead.
Hopes of a freight rate recovery were shattered with 2014 producing the second worst year in the past decade for vessel earnings, SGX noted.
The Baltic Dry Index (‘BDI’) fell 66% to end the year at 782. Across vessel types, Capesize rates closed the year down 88% from the beginning of the year. Panamax, Supramax and Handysize rates declined 53%, 38% and 39%, respectively. The BDI showed signs of recovery both in the middle of the year and in the last quarter, but both recoveries quickly stalled.
The report further said that, roughly two-thirds of dry bulk freight activity is driven by iron ore, coal and steel. While seaborne iron ore and steel demand have remained strong, the year has digested a number of negatives, including: (i) weaker coal trade as Chinese imports have declined; (ii) negative macro news and credit tightening in China; (iii) the Indonesian ban on nickel ore/bauxite/iron ore exports; and (iv) less congestion from shippers in South America. Broadly speaking, supply has outstripped demand, and in 2015 fleet supply growth is expected to remain slightly ahead of cargo growth.
In shipping, supply side dynamics manifest in two ways – (i) number of ships on seas plus the new deliveries, and (ii) speed of the vessels. In anticipation of rising demand for these dry bulkers, the shipping industry responded affirmatively on both fronts: not only were there more vessels, but many also reportedly sped up their fleets. Even though the demand for vessels in the cape segment has grown, the tonne-mile demand in 2014 shrunk, chiefly due to much of the iron ore supply being delivered on short haul routes. However, in the Panamax category, while the order book touched a 5-year high of 53% in 2010 followed by a 5 year low of 23% in June 2013, the current order book for these vessels at 33% looks a bit apprehensive given demand side challenges.
At any one time, there are about 1,000 vessels in the Singapore port.*
*Singapore Maritime Port Authority
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- The University of Queensland
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- PTC India Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
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