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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, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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