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