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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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Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Australian Coal Association
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- PTC India Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
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