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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Planning Commission, India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
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