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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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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- White Energy Company Limited
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bhatia International Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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