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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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Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Parliament of New Zealand
- The University of Queensland
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
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