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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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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
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