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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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Planning Commission, India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
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