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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
 The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overall growth in six years. Growth during the quarter was strongest in the industrial sector (6.4%) and the service sector (7.9%), whereas the primary sector (3.2%) contributed to a lesser extent.
The headline data confirms the economic outlook for China, which remains a slowing economy that is going through a transition from being heavily reliant on exports, manufacturing and construction to being one that runs on domestic consumer demand.
The development is ongoing at high speed and data on industrial production in March and total retail sales of consumer goods in the first quarter confirmed this change is very much on. Industrial production grew by 5.6% in March y-o-y, which is the lowest since the end of 2008. On the other hand total retail sales in the first quarter grew by 10.6%.
What does this means to shipping?
Chief Shipping Analyst at BIMCO, Peter Sand, says:
“The transition of the Chinese economy is affecting the shipping industry a lot. During the past decades of strong economic development, Chinese foreign trade have been growing tremendously. Dry bulk in particular has benefitted and crude oil tankers too on the imports side. While container shipping on intra-Asian routes and westbound trades has benefitted from massive exports of manufactured goods”.
“What we have seen in shipping in recent years and is going to experience more in future is the knock-on effect from China becoming a relatively more closed economy, driven forward by domestic demand rather the foreign demand like i.e. the US. In short this translates into a lower level of shipping demand going forward than what we got accustomed to during the past decades”
“BIMCO often mentions that the future holds a “New Normal” of shipping demand, one where slightly less trade in generated from global economic growth – as compared to previously, as the composition of the global GDP is changing. What we see from China today is evidence on just that.”
IMF has revised its World Economic Outlook
The IMF (International Monetary Fund) has kept is forecast for global growth unchanged from its January estimate at 3.5% for 2015, while upward adjusting the 2014 estimate to 3.4% (3.3%).
The “New Normal” is also evident from the GDP growth rates in recent years, where advanced economies in particular have suffered from low growth in the aftermath of the financial and economic crisis that broke out in 2008.
For 2015 the advanced economies is staging a comeback, as IMF forecast 2.4% in 2015 against 1.8% in 2014, whereas the emerging markets and developing economies are set to grow by 4.3% against 4.6% last year.
“There are no major surprises in IMF’s forecast. Uneven growth and a lower future potential output level is all known stuff. Amongst the minor surprises the US is downward revised on the back of a higher valued dollar and lower oil production than previously expected.”
“India is also worth mentioning amongst the minor surprises as IMF projects 7.5% growth in both 2015 and 2016. This means India surpass Chinas expected growth of 6.8% and 6.3% for same years. However, as the Chinese economy is five times bigger than India, the shipping industry remains most reliant on the developments in China”, adds Peter Sand.
Source: BIMCO | Hellenic Shipping News
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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- Trasteel International SA, Italy
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- White Energy Company Limited
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
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