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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
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