• About Angela Chao
  • Career in Shipping
    • Different Career Paths in Shipping
      • Deck Officer
      • Freight Analyst
      • Marine Engineer
      • Ship Broker
      • Shipbuilder
    • Education Facilities and Programs
    • How to Get started
  • Contact Angela

Angela Chao Blog

~ International Shipping and Transportation

Angela Chao Blog

Tag Archives: China’s Coal

BDI Not Recovering This Summer

14 Thursday Aug 2014

Posted by Angela Chao in Dry bulk shipping

≈ 2 Comments

Tags

BDI, Capesize charters, China's Coal, coal consumption, coal stockpiles, coal usage

The Baltic Dry index continues its rather depressed performance, in spite of a small 4% gain. Leading indicators, Capesize and Panamax sectors, demonstrate a stagnant market at the moment. Capesize rates were stuck at $8.5k and Panamax at $5k. Only Supramaxes saw some improvement, with a 10% rise in rates. Thus far this quarter, Panamax spot rates are more than 60% year to date. A primary cause is China’s declining coal imports, down 4% from this time a year ago. Industry analysts are holding out for some improvement in the fall and fourth quarter of this year resulting from the typical upswing in electricity use in China during the summer months, which should result in more coal usage and a depletion of current coal stockpiles. However, at the same time, electricity producers have been pushing for less coal consumption, prompting imports of cleaner, more energy efficient coal. Their timing is excellent as current global prices for coal are dropping, which is impacting shipping vessel freight performance. Iron ore shipping is doing a bit better, showing good strength with 145 spot Capesize charters in this last four-week period, an increase of 4 charters from the previous four weeks. The winner here continues to be Australia which is succeeding in squeezing out other countries. For instance, over the first weeks of August, Australia sent out 17 charters while Brazil sent only two.

Social

  • View angelachaocff’s profile on Facebook
  • View AngelaAChao’s profile on Twitter
  • View angela-chao-57848163’s profile on LinkedIn
  • View angelachao1’s profile on YouTube
  • View +AngelaChao’s profile on Google+

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 334 other followers

About Me

Angela Chao
Chairman and C.E.O. of Foremost Group, a leading shipping and trading enterprise, Angela Chao is an active businesswoman who serves on several boards and loves to volunteer. Angela comes from a loving and supportive family of Chinese descent. The Chao family dedicate themselves to serving and contributing to society.

Read More

Recent Posts

  • A Review of Dry Bulk Shipping Performance and Its Challenges in 2016
  • Several Indicators Point to Long-Term Recovery in Capesize Market
  • Is Obsession with Brexit Creating a Blind-spot for Economists?
  • Angela Chao’s Mixed Bag of News for the Dry Bulk Shipping Industry
  • Consolidations in China’s Steelmaking Industry are Healthy and Necessary

Categories

  • Baltic Dry Index
  • Dry bulk shipping
  • Shipping Events

Tags

Baltic Capesize Index BDI Capesize rates China Chinese economy coal imports coal shipping Crude Oil Dalian Commodity Exchange dry bulk market dry bulk shipping dry bulk shipping market freight rates iron ore Iron ore prices iron ore shipping Iron ore shipping vessels shipping industry steel steel industry

Blog at WordPress.com.