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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, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Central Electricity Authority - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
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