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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, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
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- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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