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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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Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
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