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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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- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
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