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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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Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
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