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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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Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
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