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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, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
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