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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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- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
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