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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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- GMR Energy Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
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- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- The University of Queensland
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
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