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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
 The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which are 43% lower than in the same period last season. Down from 21 million tonnes of accumulated exports by 23 November 2017 to 11.9 million tonnes by 22 November 2018. A loss of 122 Panamax (75,000 tonnes) or 183 Supramax (50,000 tonnes) loads.
“Tonne mile demand is further hurt as not only are the volumes of US soya bean exports lower than last year, the distances sailed are also much shorter as the new destinations are closer to the US than China is.” Peter Sand, BIMCO’s Chief Shipping Analyst, says.
The loss of 122 Panamax loads (all destinations) may be downplaying the impact the change in US soya bean exporting patterns is having on the dry bulk shipping industry. By 23 November 2017, 71.3% of all soya bean exports were sent to China, equal to 200 Panamax loads on one of the longest trades in the world. So far this marketing year, China has taken just 2.8% of US soya bean exports, further harming the tonne mile demand generated by US soya bean exports.
“The weaknesses in Panamax and Supramax earnings in recent weeks is likely to be linked to the lower demand for seaborne transportation of US soya bean exports as compared to previous seasons”
In particular Panamax and Supramax vessels are affected given their reliance on the high volumes of US soya beans usually being sent to China at this time of year. The drop in this demand has been one of the factors behind the lack of seasonal upswing in earnings which has been seen in previous fourth quarters. Panamax earnings fell from 14,385 USD/day on 17 October 2018, to 10,996 USD/day on 23 November 2018.
Two biggest importers in Latin America
So far this season only two countries have imported more than a million tonnes of US soya beans, a fraction of the Chinese levels seen in previous seasons. Argentina has gone from no imports of US soya beans at this time last year, to topping the list with 1.21 million tonnes. A remarkable surge but in no way enough to make up for the loss in exports to China. Mexico takes the second sport with 1.18 million tonnes, a 21.6% increase compared to last season.
Despite anecdotal evidence, data from the USDA and backed up by Brazilian customs statistics showed that the US hadn’t exported any soya beans to brazil between the start of the season on 1 September 2018 to 22 November 2018. During the 2017/18 marketing year, the US only exported 100 tonnes of soya beans to Brazil.
Delayed Reaction
Although the 25% tariff on Chinese imports of US soya beans was implemented on 6 July 2018, its effects have only really started to show since the start of the fourth quarter. Last year, 55% of US soya bean exports to China occurred between October and December.
Although US exports to China have dropped by 98% since 1 September compared to the same period last season, total Chinese imports of soya beans in the period from January 2018 to October 2018, have only fallen 0.5%, largely due to increased imports from Brazil. However, the US dominates the soya bean export market in the last quarter of the year, and we are therefore likely to see total Chinese soya bean imports be lower than last year.
“Hopes of a resolution to the US-China trade war before the end of the year rest on the upcoming G20 summit, but even in the unlikely event that all tariffs are immediately revoked, the trade war may have a long-term effect on trade between the two nations.
As evidenced by China halting imports of US crude oil despite it not being an official part of the trade war, tariffs are not the only factor which have and most likely will continue to harm trade between the two nations.
If Chinese farmers decide they need fewer soya beans to feed their livestock, the overall Chinese demand for soya beans could be permanently reduced, even if tariffs are removed.” Peter Sand ends.
By Peter Sand
in Copenhagen, DK
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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- White Energy Company Limited
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
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