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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, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
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