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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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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Parliament of New Zealand
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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