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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
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