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Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodity trade in the past, combined with the large supply base of dry bulk carriers, in need of employment. At the same time, as shipbroker Allied Shipbroking pointed out in its latest weekly analysis, the rise of new markets for coal, such as India, isn’t happening as fast as the market needs to recover.
Allied noted that thermal coal was plagued “by an increasing amount of strict environmental policies on a global scale and a rapid drop in prices of competing fuels, in effect seeing its seaborne trade sag ever since mid-2013. The main country which has influenced this drop in demand has been China, which has taken a strict approach on curbing its consumption, in an effort to overturn the level of air pollution in its major cities. Yet as things looked to be in their most dire, we have started to see a new giant emerge amongst the major thermal coal imports. India has rapidly taken up the role of bringing up the market, wishing to take advantage of this excess supply that has become available in the market and at the same time feeding its growth needs with this relatively cheap energy source”.
George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking noted that “as things stand now, India is set to see an 11% increase in its imports, rising from 180 million tonnes in 2014 up to a forecast of around 200 million tonnes for 2015 according to statements by consultancy group Venerable Energy Solutions. Things look even more optimistic as expectations are now for a rise in India’s imports of thermal coal of up to 250 million tonnes within the next 3-4 years based on the current domestic supply situation as well as its growing consumption levels. This is an equivalent of an increase of around 39% from its 2014 levels, something which would not only make it the world’s largest importer of thermal coal but a main driver in demand for thermal coal’s seaborne trade. This is not even the most bullish of estimations being thrown around in the market, with commodities trader Glencore having put a forecast for India’s thermal coal imports to rise up to 300m tonnes by 2020. While some may see these as fairly optimistic forecasts, especially as rumours circulate of an enhanced availability of domestically sourced coal and a gradual cutting back of India’s reliance on thermal coal as well, there might be some truth in the more imminent market prospects as its demand will certainly dictate a strong growth rate up until 2017″, he noted in his analysis.
Meanwhile, “at the other end of the spectrum you have China, a country which has already cut back on in its imports since 2013, making an immediate effect with its absence which was especially well noted via dry bulk freight rate conditions in the Pacific basin. This trend has shown to continue at an equal magnitude this year, with Chinese imports already set to close at an annual decline of over 23% (or equivalent to 52 million tonnes from the 229 million tonnes imported in 2014 according to the International Energy Agency). This still leaves a market wanting, as the math still indicates to a combined import volume that is notably weaker than that of 2014. At the same time, and although India’s demand is set to strengthen, China’s demand for thermal coal imports is expected to continue its sharp drop over the coming years, leaving the market with an ever increasing gap to fill”, Lazaridis said.
He concluded his argument by noting that “the positive side to see is that China’s retreat on some of the major trading dry bulk commodities is already starting to be countered by the new and upcoming behemoths of economic growth. On the negative side, the transition is not happening nearly as fast as would be needed to keep the freight market buoyant and although new trade matrices might benefit the overall tonne-mile demand, all indications continue to point to a slower pace in growth in demand for these major dry bulk commodities”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
Monday, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
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