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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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- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- The University of Queensland
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
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