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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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Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
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