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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, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
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Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
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Showing 2411 to 2415 news of total 6871 |
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- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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