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