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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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Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Minerals Council of Australia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
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