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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
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