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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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Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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Showing 2481 to 2485 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
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