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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, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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Showing 2811 to 2815 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Australian Coal Association
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
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