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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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Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
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Showing 2621 to 2625 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
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