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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, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
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