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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, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
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