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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
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- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
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- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
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- London Commodity Brokers - England
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- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
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- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
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- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
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- Eastern Energy - Thailand
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- Mintek Dendrill Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
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- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
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