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Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
 Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing countries and faster than global GDP growth. However, recent shifts in demand trends contributed to slower seaborne trade growth in 2014 (3.2%) and 2015 (2.0%). How has this reflected changes in demand for bulk shipments into major importing countries?
Multiple Problems?
The ratio between global seaborne trade growth and GDP growth (the ‘multiplier’), when considered over a long time period, can be a useful indicator of the impact of drivers in shipping. Following the economic downturn, the ratio averaged 1.3 in 2010-13, partly as strong Chinese GDP growth drove a surge in raw material imports, and globally production was outsourced to regions more distant from demand centres. Since 2014, the ratio has fallen below 1. The drop was most marked in 2015, with the ratio reaching 0.6, as world seaborne trade is estimated to have grown 2.0% and GDP by 3.1%, partly reflecting shifts in import demand. Growth in bulk imports (dry bulk and oil) to the five biggest importing nations in 2015 (see graph) slowed from an average of 5.5% p.a. in 2012-13, to 1.6% p.a. in 2014-15, with cargo totalling 3.7bt, equivalent to 49% of global bulk trade.
Sluggish Demand
Of course, China, the world’s largest importer of bulk cargoes, had been key in supporting the multiplier. The country’s bulk imports, which account for 23% of world seaborne bulk trade, grew on average by 11% p.a. 2010-13. However, the maturing Chinese economy’s shift, diversifying away from heavy industry, led to a stark slowdown in growth in bulk imports. Shipments to China rose 3% in 2014 and remained fairly flat y-o-y in 2015. Seaborne coal imports to the country fell 30% y-o-y to 188mt in 2015, while growth in iron ore imports slowed to 3%, from 15% in 2014. However, some of the loss was offset by robust crude import growth, partly supported by the oil price collapse.
Not Only China
While China is frequently highlighted as a of key driver of slower global trade growth, the expansion in imports into some other major nations was also more sluggish in 2014-15. Japan’s bulk imports, which account for 8% of the world total, grew on average by 3% p.a. in 2012-13, and fell 2% p.a. in 2014-15, to 588mt in 2015. Elsewhere, although expansion in Indian bulk imports has been firm, it is slowing. Growth slowed to 8% in 2015 due to a decline in coal imports.
In contrast, the rate of increase in Korean bulk imports picked up in 2014-15, largely underpinned by firmer growth in dry bulk shipments, although this was not enough to offset the slowdown in other countries. Elsewhere, the rate of decline in US imports eased, with most of the fall in oil imports having already taken place.
So, whilst the maturing Chinese economy has contributed to slower trade growth recently, it has not been the sole driver. Seaborne trade has still grown robustly since the start of 2009, by around 30%. But the world fleet is now 48% larger in GT terms. Surplus capacity today evident in many sectors is a clear reflection of concerted pressure from slower growth in shipments across key importers.
Source: Clarkson Research Services Limited Hellenic Shipping
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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2221 to 2225 news of total 6871 |
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- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
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