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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
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