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Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
 According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s economy has intensified recently. Particularly important to Commodore Research is that Chinese steel output growth last month rose to the highest level seen this year, Chinese spending set a record in October and was very strong again last month, and Chinese electricity production growth has remained at a robust level since July. China's overall industrial production growth has also stayed strong, as Chinese industrial production grew year-on-year in November by 6.2%.
The strong growth in China's industrial production has continued to represent a particularly stark contrast from many other nations including the United States and even India. According to Commodore Research, each of the last fifteen months have seen US industrial production contract on a year-on-year basis. Most recently in November, US industrial production contracted year-on-year by 0.6%. Prior to this current fifteen-month period, the last time there were even two straight months of year-on-year US industrial production contraction was back in 2009.
Indian industrial production data for October was also released last week (Indian data lags behind Chinese and American data), and October saw India’s industrial production contract year-on-year by 1.9%. Indian industrial production has now contracted on a year-on-year basis during three out of the last four months. Overall, industrial production remains just one area where China continues to fare a great deal better than much of the rest of the world. As highlighted in Commodore Research's December 12th Weekly China Report, China has continued to maintain its overall dominance in both global trade and foreign exchange reserves as well.
China remains one of only two nations holding foreign exchange reserves totaling $1 trillion or greater (Japan is the other nation and currently holds only approximately $1.2 trillion in foreign exchange reserves). Chinese trade also continues to come in at an impressive surplus, and most recently its trade surplus totaled approximately $44.6 billion in November. To put Chinese trade into perspective, many nations (including the United States and India) have not achieved a trade surplus in any month this decade accord to analysis from Commodore Research.
Heading into the new year, it is very encouraging that the turnaround in China's economy has continued to intensify recently. The 5% year-on-year growth in China's steel output last month marked the strongest growth seen this year. Chinese spending has also broken through the 3 trillion yuan barrier in each of the last two months. In addition, China's year-on-year electricity production growth has come in at least 8% during each of the last five months, which marks a huge change from low growth seen in late 2015 and early this year. Three out of the last four months of 2015 did not see any year-on-year growth in China's electricity production and January and February only saw year-on-year growth of just 2%.
Going forward, Commodore Research anticipate that's Chinese lending will stay very strong next year, and that more records in consumer spending will be set. Recently released data showed Chinese consumer spending totaled approximately 3.1 trillion yuan in November, which marked only the second time in history that spending climbed to 3 trillion yuan or higher (the first time was in October). Overall, it is encouraging that each of the last two months have seen China’s consumer spending exceed 3 trillion yuan. The outlook for the Chinese economy next year remains very encouraging, especially in comparison with much of the rest of the world.
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
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