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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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Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
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- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
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- CNBM International Corporation - China
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- Gujarat Mineral Development Corp Ltd - India
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- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
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- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
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