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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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Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
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- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- The University of Queensland
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
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