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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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Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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