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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Australian Coal Association
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- Pendopo Energi Batubara - Indonesia
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- Commonwealth Bank - Australia
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- Thai Mozambique Logistica
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- London Commodity Brokers - England
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- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Malabar Cements Ltd - India
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- Ministry of Transport, Egypt
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- Mercator Lines Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
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- The Treasury - Australian Government
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- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
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- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
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- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
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- Independent Power Producers Association of India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Oil Corporation Limited
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- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
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- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
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- Vedanta Resources Plc - India
- Parliament of New Zealand
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- Heidelberg Cement - Germany
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
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- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
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- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
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- Miang Besar Coal Terminal - Indonesia
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- Xindia Steels Limited - India
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- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
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- San Jose City I Power Corp, Philippines
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- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
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