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Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
 Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off were hard to believe. In those days China’s total imports were below 400mtpa and the ore trade had been sluggish for a decade. But even the most bullish forecasters were way below target and in 2014 seaborne iron ore imports jumped 15% by 119mt to 914mt.
Ironing Out The Bumps
This was more than total Chinese seaborne imports which only grew by 65mt in 2014. Coal and metal imports both fell sharply, and the resulting 3% rise was the lowest since the Asia crisis in 1998. So dry bulk should say a very big thank you to Chinese iron ore importers for keeping some water under the hull.
Economic Discomfort
The problem now facing analysts is that the 2014 growth of iron ore imports does not appear to hang together with the rest of the steel economy. Construction slowed and shipbuilding output fell 14%. Overall steel demand decreased 3%, which makes the reported 1% growth in steel output look high. The real driver of import growth was a surge in low-cost ore production by major Australian miners, forcing out higher-cost mines in China and elsewhere. But estimates of the impact on domestic Chinese iron ore production vary, and official statistics suggest total output growth of 4%. Even after accounting for the falling grade of domestic ore, the figures don’t quite fit together.
Inscrutable Statistics
What’s going on? It’s a crucial question. Under-reporting of steel production could be a factor, and historical data has been revised up before. The 50% drop in iron ore prices last year may have led to stock building across the supply chain, or impacted domestic output to a greater extent than reported. Either way, it is clear that steel exports have surged, while strong Australian ore output depressed prices and kept Chinese imports firm.
Market Consequences
The worry for the dry bulk market is if Chinese demand falls enough to dampen imports. There are legitimate concerns that the construction and infrastructure programs which drove the steel industry over the last decade are facing serious problems. One issue is that the financial foundation of this growth is looking shaky. The debt to GDP ratio has risen sharply since 2010, much of it “back door debt” arranged by the provinces. As one leading economist put it at a conference in Long Beach California this week, “no country has ever escalated debt on this scale without something happening”. He thought the options are a crisis or a decade of slow growth.
Troublesome Times?
So there you have it. Thanks to Chinese steel, in the 2000s the bulker market enjoyed the biggest boom in history. Whatever the position over the debt mountain, readjusting the capital side of the economy will take time. A positive response is that we’ve been worrying about Chinese trade for the last 5 years – somehow the accident never happened, and there’s more low-cost mine expansion underway. Will our star performer continue to ride its luck? Time will tell. Have a nice day.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
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- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Planning Commission, India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
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