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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1436 to 1440 news of total 6871 |
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- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
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