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Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest importer of coal this year. China’s consumption of coal accounts for just over 50 per cent of global consumption, however only around 5 per cent of it stems from imports, making the bulk shipping market very vulnerable to changes in demand. In the first six months of 2015 China has imported just under 100 million tons of coal totally (incl. lignite and anthracite) a reduction of more than 38 per cent compared to the same period last year.
Chief Shipping Analyst at BIMCO, Peter Sand says: “Coal used to be the all-important dry bulk commodity for the better. That was before iron ore entered the stage big time, with China rising to become the world’s largest steel producer. Now, coal is back for the worse.
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Currently, overall dry bulk demand is the weakest since 2009 and freight rates gives shipowners few options but to endure. Diminishing volumes as well as dwindling sailing distances for total Chinese coal imports is a drag on the market”.
China’s production of crude steel dropped to 410 million tons in the first half of 2015, 1.3 per cent lower than last year. The effect on coking coal imports, a vital ingredient in steel production, is clear. China imported 21.6 million tons of coking coal in the first six months of 2015, 30 per cent lower compared to the previous year. Australian producers supply the lion’s share of Chinese imports (50 per cent) but has faced fierce competition from Mongolian exporters since the beginning of 2015.
Coking coal exports from Australia into China is down 28 per cent the first six months of 2015 compared to 2014, meanwhile Mongolian exports are only down 17 per cent. In 2014 Mongolia exported a total of 14.7 million tons of coking coal to China, equal to 24 per cent of the total. So far this year Mongolia has exported 6.3 million tons of coking coal bringing the share up to 30 per cent. The rising Mongolian share is especially troublesome as it produces yet another challenge for the seaborne trades. Since Mongolia is landlocked and the coal is therefore transported by land.
Around 70 per cent of China’s energy is generated by coal, but in recent years China has worked intensely towards implementing more renewable energy sources i.e. hydropower. This has brought a decline in the demand for coal used in power generation. If the trend continues 2015 it could end up being the second consecutive year with a decline in the total world seaborne coal trade.
Longer-haul coal trade from South Africa has disappeared Just as with the coking coal, Australia is one of the big suppliers of steam coal. Together with Indonesia they account for 87 per cent of the steam coal going into China. With diminishing demand from China the share from these countries has gone up, pushing out the smaller nations.
South Africa for one is a great example. Despite the longer route compared to Australia and Indonesia, South Africa supplied more than 8 per cent of the China’s steam coal in 2013. By the end of 2014 that share had been more than halved and by 2015 the shipments had stopped all together. As of right now it has been over a year since a shipment of steam coal heading for China, left South Africa. China’s coal trade with South Africa is beneficial to seaborne trade as the sailing distance is twice as long as from the main suppliers Australia and Indonesia.
“The eventual implementation of the free trade agreement between China and Australia will eliminate the tariffs currently imposed on Chinese coal imports. An increased coal trade between China and Australia will benefit seaborne trade as current alternative sources are closer to China and thus involves less transportation by sea.
On the other hand as it becomes more favorable for China to import coal from Australia the chances of seeing beneficial longer-haul trades from for instance South Africa, unfortunately become less likely.”, adds Peter Sand
Source: BIMCO| Hellenic Shipping News
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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
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- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Dalmia Cement Bharat India
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