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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, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
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