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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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Showing 3421 to 3425 news of total 6871 |
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- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- PTC India Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
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