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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
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