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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
 The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overall growth in six years. Growth during the quarter was strongest in the industrial sector (6.4%) and the service sector (7.9%), whereas the primary sector (3.2%) contributed to a lesser extent.
The headline data confirms the economic outlook for China, which remains a slowing economy that is going through a transition from being heavily reliant on exports, manufacturing and construction to being one that runs on domestic consumer demand.
The development is ongoing at high speed and data on industrial production in March and total retail sales of consumer goods in the first quarter confirmed this change is very much on. Industrial production grew by 5.6% in March y-o-y, which is the lowest since the end of 2008. On the other hand total retail sales in the first quarter grew by 10.6%.
What does this means to shipping?
Chief Shipping Analyst at BIMCO, Peter Sand, says:
“The transition of the Chinese economy is affecting the shipping industry a lot. During the past decades of strong economic development, Chinese foreign trade have been growing tremendously. Dry bulk in particular has benefitted and crude oil tankers too on the imports side. While container shipping on intra-Asian routes and westbound trades has benefitted from massive exports of manufactured goods”.
“What we have seen in shipping in recent years and is going to experience more in future is the knock-on effect from China becoming a relatively more closed economy, driven forward by domestic demand rather the foreign demand like i.e. the US. In short this translates into a lower level of shipping demand going forward than what we got accustomed to during the past decades”
“BIMCO often mentions that the future holds a “New Normal” of shipping demand, one where slightly less trade in generated from global economic growth – as compared to previously, as the composition of the global GDP is changing. What we see from China today is evidence on just that.”
IMF has revised its World Economic Outlook
The IMF (International Monetary Fund) has kept is forecast for global growth unchanged from its January estimate at 3.5% for 2015, while upward adjusting the 2014 estimate to 3.4% (3.3%).
The “New Normal” is also evident from the GDP growth rates in recent years, where advanced economies in particular have suffered from low growth in the aftermath of the financial and economic crisis that broke out in 2008.
For 2015 the advanced economies is staging a comeback, as IMF forecast 2.4% in 2015 against 1.8% in 2014, whereas the emerging markets and developing economies are set to grow by 4.3% against 4.6% last year.
“There are no major surprises in IMF’s forecast. Uneven growth and a lower future potential output level is all known stuff. Amongst the minor surprises the US is downward revised on the back of a higher valued dollar and lower oil production than previously expected.”
“India is also worth mentioning amongst the minor surprises as IMF projects 7.5% growth in both 2015 and 2016. This means India surpass Chinas expected growth of 6.8% and 6.3% for same years. However, as the Chinese economy is five times bigger than India, the shipping industry remains most reliant on the developments in China”, adds Peter Sand.
Source: BIMCO | Hellenic Shipping News
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Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
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