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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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Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Tamil Nadu electricity Board
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- Minerals Council of Australia
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- Mercator Lines Limited - India
- Economic Council, Georgia
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- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
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- Posco Energy - South Korea
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- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
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- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- The University of Queensland
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- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
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- Electricity Authority, New Zealand
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- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
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- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
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- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
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- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
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- India Bulls Power Limited - India
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- Energy Development Corp, Philippines
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- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
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