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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
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