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