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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
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