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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, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Planning Commission, India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
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