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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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Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
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- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
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