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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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Deloitte Consulting - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Central Java Power - Indonesia
- Siam City Cement - Thailand
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