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Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest importer of coal this year. China’s consumption of coal accounts for just over 50 per cent of global consumption, however only around 5 per cent of it stems from imports, making the bulk shipping market very vulnerable to changes in demand. In the first six months of 2015 China has imported just under 100 million tons of coal totally (incl. lignite and anthracite) a reduction of more than 38 per cent compared to the same period last year.
Chief Shipping Analyst at BIMCO, Peter Sand says: “Coal used to be the all-important dry bulk commodity for the better. That was before iron ore entered the stage big time, with China rising to become the world’s largest steel producer. Now, coal is back for the worse.
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Currently, overall dry bulk demand is the weakest since 2009 and freight rates gives shipowners few options but to endure. Diminishing volumes as well as dwindling sailing distances for total Chinese coal imports is a drag on the market”.
China’s production of crude steel dropped to 410 million tons in the first half of 2015, 1.3 per cent lower than last year. The effect on coking coal imports, a vital ingredient in steel production, is clear. China imported 21.6 million tons of coking coal in the first six months of 2015, 30 per cent lower compared to the previous year. Australian producers supply the lion’s share of Chinese imports (50 per cent) but has faced fierce competition from Mongolian exporters since the beginning of 2015.
Coking coal exports from Australia into China is down 28 per cent the first six months of 2015 compared to 2014, meanwhile Mongolian exports are only down 17 per cent. In 2014 Mongolia exported a total of 14.7 million tons of coking coal to China, equal to 24 per cent of the total. So far this year Mongolia has exported 6.3 million tons of coking coal bringing the share up to 30 per cent. The rising Mongolian share is especially troublesome as it produces yet another challenge for the seaborne trades. Since Mongolia is landlocked and the coal is therefore transported by land.
Around 70 per cent of China’s energy is generated by coal, but in recent years China has worked intensely towards implementing more renewable energy sources i.e. hydropower. This has brought a decline in the demand for coal used in power generation. If the trend continues 2015 it could end up being the second consecutive year with a decline in the total world seaborne coal trade.
Longer-haul coal trade from South Africa has disappeared Just as with the coking coal, Australia is one of the big suppliers of steam coal. Together with Indonesia they account for 87 per cent of the steam coal going into China. With diminishing demand from China the share from these countries has gone up, pushing out the smaller nations.
South Africa for one is a great example. Despite the longer route compared to Australia and Indonesia, South Africa supplied more than 8 per cent of the China’s steam coal in 2013. By the end of 2014 that share had been more than halved and by 2015 the shipments had stopped all together. As of right now it has been over a year since a shipment of steam coal heading for China, left South Africa. China’s coal trade with South Africa is beneficial to seaborne trade as the sailing distance is twice as long as from the main suppliers Australia and Indonesia.
“The eventual implementation of the free trade agreement between China and Australia will eliminate the tariffs currently imposed on Chinese coal imports. An increased coal trade between China and Australia will benefit seaborne trade as current alternative sources are closer to China and thus involves less transportation by sea.
On the other hand as it becomes more favorable for China to import coal from Australia the chances of seeing beneficial longer-haul trades from for instance South Africa, unfortunately become less likely.”, adds Peter Sand
Source: BIMCO| Hellenic Shipping News
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Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Planning Commission, India
- Intertek Mineral Services - Indonesia
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