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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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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
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