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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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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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Showing 2816 to 2820 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
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