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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, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
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- Wilmar Investment Holdings
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
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