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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Minerals Council of Australia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- MS Steel International - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
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