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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- New Zealand Coal & Carbon
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
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