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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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Showing 2471 to 2475 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
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