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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, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
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Showing 2511 to 2515 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Eastern Coal Council - USA
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