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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, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Australian Coal Association
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
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