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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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- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
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