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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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Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
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