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