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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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Showing 2311 to 2315 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
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