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Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
 Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
The Hoover Losing Suction
China’s role in recent global coal trade has been to hoover up coal output and provide a seemingly bottomless source of demand to exporters around the world. Chinese imports accounted for a quarter of growth in seaborne coal trade in 2012 and 65% in 2013. However, as the graph shows, the country’s coal import demand has been in steady decline since the beginning of 2014 and with the acceleration of the downturn in the first half of 2015, China is likely to lose its leading position, while global seaborne coal trade is expected to record its first decline in decades.
The Prognosis
The majority of coal consumed in China is sourced domestically, meaning that even a small change in the country’s coal use can impact heavily on seaborne imports. With that in mind, Chinese coal fired power generation dropped 3% y-o-y in the first five months of 2015 on the back of the government’s measures to tackle air pollution. There have been a number of power plant closures in recent months, while Chinese importers became increasingly particular about their coal purchases, due to the introduction of a series of coal quality regulations. Correspondingly, Chinese thermal coal imports dropped 39% y-o-y in January to May to the lowest level for the period since 2011. Similarly, coking coal imports dropped 41% y-o-y in January to May, coinciding with the 1.3% y-o-y drop in steel production in 1H 2015. The drop has been largely attributed to easing infrastructure development and sluggish construction activity.
The Impact On Exporters
As China’s coal imports from seaborne suppliers have dropped across the board in the year to date, coal miners have been put under severe financial pressure. Indonesian miners have taken a particularly severe blow, with a large number forced to cut output. Total Indonesian coal production dropped 19% y-o-y in January to May, while shipments to China halved y-o-y. Elsewhere, while Australian miners are likely to benefit modestly from a free trade agreement signed in June, forecasts still indicate a difficult remainder of the year, following the 15% y-o-y drop in exports to China in January to May. Finally, while India is on course to become the leading seaborne coal importer in 2015, it is likely to fall considerably short of filling the demand gap left by China. As such, the impact of collapsing Chinese coal import demand on global coal trade is likely to be significant.
Source: Clarksons | Hellenic Shipping News
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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- White Energy Company Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
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