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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- The University of Queensland
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
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