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