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