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