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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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Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
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