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Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
 Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off were hard to believe. In those days China’s total imports were below 400mtpa and the ore trade had been sluggish for a decade. But even the most bullish forecasters were way below target and in 2014 seaborne iron ore imports jumped 15% by 119mt to 914mt.
Ironing Out The Bumps
This was more than total Chinese seaborne imports which only grew by 65mt in 2014. Coal and metal imports both fell sharply, and the resulting 3% rise was the lowest since the Asia crisis in 1998. So dry bulk should say a very big thank you to Chinese iron ore importers for keeping some water under the hull.
Economic Discomfort
The problem now facing analysts is that the 2014 growth of iron ore imports does not appear to hang together with the rest of the steel economy. Construction slowed and shipbuilding output fell 14%. Overall steel demand decreased 3%, which makes the reported 1% growth in steel output look high. The real driver of import growth was a surge in low-cost ore production by major Australian miners, forcing out higher-cost mines in China and elsewhere. But estimates of the impact on domestic Chinese iron ore production vary, and official statistics suggest total output growth of 4%. Even after accounting for the falling grade of domestic ore, the figures don’t quite fit together.
Inscrutable Statistics
What’s going on? It’s a crucial question. Under-reporting of steel production could be a factor, and historical data has been revised up before. The 50% drop in iron ore prices last year may have led to stock building across the supply chain, or impacted domestic output to a greater extent than reported. Either way, it is clear that steel exports have surged, while strong Australian ore output depressed prices and kept Chinese imports firm.
Market Consequences
The worry for the dry bulk market is if Chinese demand falls enough to dampen imports. There are legitimate concerns that the construction and infrastructure programs which drove the steel industry over the last decade are facing serious problems. One issue is that the financial foundation of this growth is looking shaky. The debt to GDP ratio has risen sharply since 2010, much of it “back door debt” arranged by the provinces. As one leading economist put it at a conference in Long Beach California this week, “no country has ever escalated debt on this scale without something happening”. He thought the options are a crisis or a decade of slow growth.
Troublesome Times?
So there you have it. Thanks to Chinese steel, in the 2000s the bulker market enjoyed the biggest boom in history. Whatever the position over the debt mountain, readjusting the capital side of the economy will take time. A positive response is that we’ve been worrying about Chinese trade for the last 5 years – somehow the accident never happened, and there’s more low-cost mine expansion underway. Will our star performer continue to ride its luck? Time will tell. Have a nice day.
Source: Clarksons | Hellenic Shipping News
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Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
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- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
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