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