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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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Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
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Showing 2711 to 2715 news of total 6871 |
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- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Central Java Power - Indonesia
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