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Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodity trade in the past, combined with the large supply base of dry bulk carriers, in need of employment. At the same time, as shipbroker Allied Shipbroking pointed out in its latest weekly analysis, the rise of new markets for coal, such as India, isn’t happening as fast as the market needs to recover.
Allied noted that thermal coal was plagued “by an increasing amount of strict environmental policies on a global scale and a rapid drop in prices of competing fuels, in effect seeing its seaborne trade sag ever since mid-2013. The main country which has influenced this drop in demand has been China, which has taken a strict approach on curbing its consumption, in an effort to overturn the level of air pollution in its major cities. Yet as things looked to be in their most dire, we have started to see a new giant emerge amongst the major thermal coal imports. India has rapidly taken up the role of bringing up the market, wishing to take advantage of this excess supply that has become available in the market and at the same time feeding its growth needs with this relatively cheap energy source”.
George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking noted that “as things stand now, India is set to see an 11% increase in its imports, rising from 180 million tonnes in 2014 up to a forecast of around 200 million tonnes for 2015 according to statements by consultancy group Venerable Energy Solutions. Things look even more optimistic as expectations are now for a rise in India’s imports of thermal coal of up to 250 million tonnes within the next 3-4 years based on the current domestic supply situation as well as its growing consumption levels. This is an equivalent of an increase of around 39% from its 2014 levels, something which would not only make it the world’s largest importer of thermal coal but a main driver in demand for thermal coal’s seaborne trade. This is not even the most bullish of estimations being thrown around in the market, with commodities trader Glencore having put a forecast for India’s thermal coal imports to rise up to 300m tonnes by 2020. While some may see these as fairly optimistic forecasts, especially as rumours circulate of an enhanced availability of domestically sourced coal and a gradual cutting back of India’s reliance on thermal coal as well, there might be some truth in the more imminent market prospects as its demand will certainly dictate a strong growth rate up until 2017″, he noted in his analysis.
Meanwhile, “at the other end of the spectrum you have China, a country which has already cut back on in its imports since 2013, making an immediate effect with its absence which was especially well noted via dry bulk freight rate conditions in the Pacific basin. This trend has shown to continue at an equal magnitude this year, with Chinese imports already set to close at an annual decline of over 23% (or equivalent to 52 million tonnes from the 229 million tonnes imported in 2014 according to the International Energy Agency). This still leaves a market wanting, as the math still indicates to a combined import volume that is notably weaker than that of 2014. At the same time, and although India’s demand is set to strengthen, China’s demand for thermal coal imports is expected to continue its sharp drop over the coming years, leaving the market with an ever increasing gap to fill”, Lazaridis said.
He concluded his argument by noting that “the positive side to see is that China’s retreat on some of the major trading dry bulk commodities is already starting to be countered by the new and upcoming behemoths of economic growth. On the negative side, the transition is not happening nearly as fast as would be needed to keep the freight market buoyant and although new trade matrices might benefit the overall tonne-mile demand, all indications continue to point to a slower pace in growth in demand for these major dry bulk commodities”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
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- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Central Java Power - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
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