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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
 China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for demand of several major trading commodities. The annual data of this Asian giant were revealed just a few days ago, sparking concerns for the economic state of the country.
According to Yiannis Vamvakas, Research Analyst of Allied, China’s GDP expanded in the previous year by 6.6%, a rate that may sound impressive compared to other OECD countries, but it is the lowest pace the country has seen since 1990. In addition, the latest quarterly growth figure stands at 6.4%, the weakest rate since the global financial crisis. With China accounting for one-third of global growth, it is no surprise that the International Monetary Fund revised its global economic growth forecast for 2019 by -0.2% and pointed out that risks for further downward corrections are high. It is fair to point out that this slowdown has been expected by most including Beijing itself. The declining trend in China’s economic growth has been in the works since 2010, with the local government making steps to slowly transform from primarily a manufacturing based economy to a service based one. Of course, the impacts on global trade from this will be slow and gradual. An economic poll conducted by Reuters showed that the majority of economists expect China to slowdown further in 2019 down to 6.3%, while the IMF predicts a 6.2% growth rate.
The weekly report of Allied further noted that, apart from this disappointing growth data, production and trade data for 2018 have also been worrying. The Caixin/Markit manufacturing purchasing managers’ index (PMI) declined in December 2018 to 49.7, slipping back into contraction for a first time in 19 months. Industrial profits also fell in December, dropping by 1.9. Moreover, China’s exports declined in December by 4.4%, the most in almost two years, while imports were also decreased by 7.6%. Regarding iron ore, a key commodity for dry bulk shipping, Chinese imports declined by 1%, falling to 1.064 billion tons from 1.075 billion tons in 2017, in their first annual decline since 2010. At the same time, steel exports continued to a soften in 2018, hurt by the current trade war with the US. On the other hand, coal imports by the Asian behemoth increased to their highest number in the last four years, reaching 281.5 million tons. However, imports were curbed during the last couple of months following a government strategy to support domestic coal prices. On the soya bean front, the impact of the US trade tariffs was significant, shifting imports’ sources from the US to different producing nations. However, it is worth mentioning that total Chinese exports in 2018 remained on a positive course, with China’s trade surplus with the US growing despite the trade tariffs, according to Chinese government data. However, the tariffs that have been imposed by the US government remain an important headache. With negotiations between the two countries having started, a lot of focus has been placed on the March deadline, when most hope a final decision will be reached. The aftermath of the negotiations may lead to further reshaping in global trade. With 2018 being an alarming year for the Chinese economy, affecting the shipping markets as well, it is significant to see if this disappointing year was just a parenthesis.
The risks placed by a further slowdown in the Chinese economy on global trade as well as shipping markets is still high, but we should keep in mind that China’s growth maybe contracting but still remains robust. However, questions regarding the capability of the global economy to decrease its dependence to China are intensifying.
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Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
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