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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
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