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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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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 ...
Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
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- Central Electricity Authority - India
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- Eastern Energy - Thailand
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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- CNBM International Corporation - China
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- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
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- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
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- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
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- Kumho Petrochemical, South Korea
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- Kobexindo Tractors - Indoneisa
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- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
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- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
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- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
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- Indonesian Coal Mining Association
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- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Wilmar Investment Holdings
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- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
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- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
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- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
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- PTC India Limited - India
- Metalloyd Limited - United Kingdom
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- Economic Council, Georgia
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- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
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