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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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Showing 2421 to 2425 news of total 6871 |
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- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
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