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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
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