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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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Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
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