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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, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- CNBM International Corporation - China
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bhatia International Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
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