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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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- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Economic Council, Georgia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
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