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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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Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K 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 ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Parliament of New Zealand
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
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