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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 support the dry bulk freight market.
World Crude steel production for the first seven months of 2015 was 945.8 million tons, down 2.1% on same period last year, according to World Steel Association.
As China accounts for 50% of the world’s crude steel production it’s fair to highlight the specific development in China as well as in the rest of the world separately.
In dry bulk shipping, all eyes are on China as 960 million tons (Mt) out of a total 1,425 MT of seaborne iron ore exports is expected to be landed there in 2015.
Fortunately for shipping, China is faring slightly better than the rest of the steel producing nations combined. From January to July this year, China produced 476 MT against 485 MT last year, a decrease of 1.8%. Meanwhile production in rest of the world was 470 MT against 482 MT last year, a decrease of 2.5%.
Chief Shipping Analyst at BIMCO, Peter Sand, says: “China is heading for its first annual decline in crude steel production since 1981. This is painful for dry bulk shipowners and operators, as iron ore imports into China is the key market driver.
Fortunately we are finally seeing Chinese steel mills substitute domestically mined ore of low quality for high quality imports. This has buoyed imports, which are on par with last year for the first seven months of 2015 while domestic production is down by 10.1% during the same period.
As we may have seen steel production in China at its peak in 2014, the big questions is: will China keep up steel exports equal to the steel production in Japan going forward or will Chinese steel production decline with lower domestic consumption from now on?”.
Chinese steel exports rose strongly throughout 2014, growing 51% on 2013 to reach 94 MT. In December 2014 and January 2015 more than 10 MT was exported. 2015 has kept building on the strength of 2014, benefiting the Supramax market in the Far East.
Currently, industrial production close to Beijing is somewhat restricted as the capital hosts the 2015 World Championships in Athletics from 22-30 August and the celebrations marking the end of World War II on 3 September. This is done to ensure blue skies during the event.
“The second half of the year is the seasonally strongest for global seaborne iron ore transportation. BIMCO therefore maintain expectations for a positive growth level, but revise it somewhat down to 2.8% on the back of weakness in first half of the year.
Achieving this level hinges on China maintaining is steel exports level as well as continues substituting domestically mined ore for imports”, 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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- Rashtriya Ispat Nigam Limited - India
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- Singapore Mercantile Exchange
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- Eastern Coal Council - USA
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- SMC Global Power, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
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- Electricity Authority, New Zealand
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- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
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- Wood Mackenzie - Singapore
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- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
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- Economic Council, Georgia
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- Wilmar Investment Holdings
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- Australian Commodity Traders Exchange
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- South Luzon Thermal Energy Corporation
- The University of Queensland
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- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
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- Global Coal Blending Company Limited - Australia
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- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
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- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
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- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
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- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petron Corporation, Philippines
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- Standard Chartered Bank - UAE
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- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
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