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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, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
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