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Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
 Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing countries and faster than global GDP growth. However, recent shifts in demand trends contributed to slower seaborne trade growth in 2014 (3.2%) and 2015 (2.0%). How has this reflected changes in demand for bulk shipments into major importing countries?
Multiple Problems?
The ratio between global seaborne trade growth and GDP growth (the ‘multiplier’), when considered over a long time period, can be a useful indicator of the impact of drivers in shipping. Following the economic downturn, the ratio averaged 1.3 in 2010-13, partly as strong Chinese GDP growth drove a surge in raw material imports, and globally production was outsourced to regions more distant from demand centres. Since 2014, the ratio has fallen below 1. The drop was most marked in 2015, with the ratio reaching 0.6, as world seaborne trade is estimated to have grown 2.0% and GDP by 3.1%, partly reflecting shifts in import demand. Growth in bulk imports (dry bulk and oil) to the five biggest importing nations in 2015 (see graph) slowed from an average of 5.5% p.a. in 2012-13, to 1.6% p.a. in 2014-15, with cargo totalling 3.7bt, equivalent to 49% of global bulk trade.
Sluggish Demand
Of course, China, the world’s largest importer of bulk cargoes, had been key in supporting the multiplier. The country’s bulk imports, which account for 23% of world seaborne bulk trade, grew on average by 11% p.a. 2010-13. However, the maturing Chinese economy’s shift, diversifying away from heavy industry, led to a stark slowdown in growth in bulk imports. Shipments to China rose 3% in 2014 and remained fairly flat y-o-y in 2015. Seaborne coal imports to the country fell 30% y-o-y to 188mt in 2015, while growth in iron ore imports slowed to 3%, from 15% in 2014. However, some of the loss was offset by robust crude import growth, partly supported by the oil price collapse.
Not Only China
While China is frequently highlighted as a of key driver of slower global trade growth, the expansion in imports into some other major nations was also more sluggish in 2014-15. Japan’s bulk imports, which account for 8% of the world total, grew on average by 3% p.a. in 2012-13, and fell 2% p.a. in 2014-15, to 588mt in 2015. Elsewhere, although expansion in Indian bulk imports has been firm, it is slowing. Growth slowed to 8% in 2015 due to a decline in coal imports.
In contrast, the rate of increase in Korean bulk imports picked up in 2014-15, largely underpinned by firmer growth in dry bulk shipments, although this was not enough to offset the slowdown in other countries. Elsewhere, the rate of decline in US imports eased, with most of the fall in oil imports having already taken place.
So, whilst the maturing Chinese economy has contributed to slower trade growth recently, it has not been the sole driver. Seaborne trade has still grown robustly since the start of 2009, by around 30%. But the world fleet is now 48% larger in GT terms. Surplus capacity today evident in many sectors is a clear reflection of concerted pressure from slower growth in shipments across key importers.
Source: Clarkson Research Services Limited Hellenic Shipping
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Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
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Showing 2511 to 2515 news of total 6871 |
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- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
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