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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 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
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