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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, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
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