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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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Showing 2426 to 2430 news of total 6871 |
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- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
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