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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
 The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which are 43% lower than in the same period last season. Down from 21 million tonnes of accumulated exports by 23 November 2017 to 11.9 million tonnes by 22 November 2018. A loss of 122 Panamax (75,000 tonnes) or 183 Supramax (50,000 tonnes) loads.
“Tonne mile demand is further hurt as not only are the volumes of US soya bean exports lower than last year, the distances sailed are also much shorter as the new destinations are closer to the US than China is.” Peter Sand, BIMCO’s Chief Shipping Analyst, says.
The loss of 122 Panamax loads (all destinations) may be downplaying the impact the change in US soya bean exporting patterns is having on the dry bulk shipping industry. By 23 November 2017, 71.3% of all soya bean exports were sent to China, equal to 200 Panamax loads on one of the longest trades in the world. So far this marketing year, China has taken just 2.8% of US soya bean exports, further harming the tonne mile demand generated by US soya bean exports.
“The weaknesses in Panamax and Supramax earnings in recent weeks is likely to be linked to the lower demand for seaborne transportation of US soya bean exports as compared to previous seasons”
In particular Panamax and Supramax vessels are affected given their reliance on the high volumes of US soya beans usually being sent to China at this time of year. The drop in this demand has been one of the factors behind the lack of seasonal upswing in earnings which has been seen in previous fourth quarters. Panamax earnings fell from 14,385 USD/day on 17 October 2018, to 10,996 USD/day on 23 November 2018.
Two biggest importers in Latin America
So far this season only two countries have imported more than a million tonnes of US soya beans, a fraction of the Chinese levels seen in previous seasons. Argentina has gone from no imports of US soya beans at this time last year, to topping the list with 1.21 million tonnes. A remarkable surge but in no way enough to make up for the loss in exports to China. Mexico takes the second sport with 1.18 million tonnes, a 21.6% increase compared to last season.
Despite anecdotal evidence, data from the USDA and backed up by Brazilian customs statistics showed that the US hadn’t exported any soya beans to brazil between the start of the season on 1 September 2018 to 22 November 2018. During the 2017/18 marketing year, the US only exported 100 tonnes of soya beans to Brazil.
Delayed Reaction
Although the 25% tariff on Chinese imports of US soya beans was implemented on 6 July 2018, its effects have only really started to show since the start of the fourth quarter. Last year, 55% of US soya bean exports to China occurred between October and December.
Although US exports to China have dropped by 98% since 1 September compared to the same period last season, total Chinese imports of soya beans in the period from January 2018 to October 2018, have only fallen 0.5%, largely due to increased imports from Brazil. However, the US dominates the soya bean export market in the last quarter of the year, and we are therefore likely to see total Chinese soya bean imports be lower than last year.
“Hopes of a resolution to the US-China trade war before the end of the year rest on the upcoming G20 summit, but even in the unlikely event that all tariffs are immediately revoked, the trade war may have a long-term effect on trade between the two nations.
As evidenced by China halting imports of US crude oil despite it not being an official part of the trade war, tariffs are not the only factor which have and most likely will continue to harm trade between the two nations.
If Chinese farmers decide they need fewer soya beans to feed their livestock, the overall Chinese demand for soya beans could be permanently reduced, even if tariffs are removed.” Peter Sand ends.
By Peter Sand
in Copenhagen, DK
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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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Showing 1531 to 1535 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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