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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
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