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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- The Treasury - Australian Government
- ASAPP Information Group - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
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