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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, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
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