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