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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Australian Coal Association
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
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