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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
 China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for demand of several major trading commodities. The annual data of this Asian giant were revealed just a few days ago, sparking concerns for the economic state of the country.
According to Yiannis Vamvakas, Research Analyst of Allied, China’s GDP expanded in the previous year by 6.6%, a rate that may sound impressive compared to other OECD countries, but it is the lowest pace the country has seen since 1990. In addition, the latest quarterly growth figure stands at 6.4%, the weakest rate since the global financial crisis. With China accounting for one-third of global growth, it is no surprise that the International Monetary Fund revised its global economic growth forecast for 2019 by -0.2% and pointed out that risks for further downward corrections are high. It is fair to point out that this slowdown has been expected by most including Beijing itself. The declining trend in China’s economic growth has been in the works since 2010, with the local government making steps to slowly transform from primarily a manufacturing based economy to a service based one. Of course, the impacts on global trade from this will be slow and gradual. An economic poll conducted by Reuters showed that the majority of economists expect China to slowdown further in 2019 down to 6.3%, while the IMF predicts a 6.2% growth rate.
The weekly report of Allied further noted that, apart from this disappointing growth data, production and trade data for 2018 have also been worrying. The Caixin/Markit manufacturing purchasing managers’ index (PMI) declined in December 2018 to 49.7, slipping back into contraction for a first time in 19 months. Industrial profits also fell in December, dropping by 1.9. Moreover, China’s exports declined in December by 4.4%, the most in almost two years, while imports were also decreased by 7.6%. Regarding iron ore, a key commodity for dry bulk shipping, Chinese imports declined by 1%, falling to 1.064 billion tons from 1.075 billion tons in 2017, in their first annual decline since 2010. At the same time, steel exports continued to a soften in 2018, hurt by the current trade war with the US. On the other hand, coal imports by the Asian behemoth increased to their highest number in the last four years, reaching 281.5 million tons. However, imports were curbed during the last couple of months following a government strategy to support domestic coal prices. On the soya bean front, the impact of the US trade tariffs was significant, shifting imports’ sources from the US to different producing nations. However, it is worth mentioning that total Chinese exports in 2018 remained on a positive course, with China’s trade surplus with the US growing despite the trade tariffs, according to Chinese government data. However, the tariffs that have been imposed by the US government remain an important headache. With negotiations between the two countries having started, a lot of focus has been placed on the March deadline, when most hope a final decision will be reached. The aftermath of the negotiations may lead to further reshaping in global trade. With 2018 being an alarming year for the Chinese economy, affecting the shipping markets as well, it is significant to see if this disappointing year was just a parenthesis.
The risks placed by a further slowdown in the Chinese economy on global trade as well as shipping markets is still high, but we should keep in mind that China’s growth maybe contracting but still remains robust. However, questions regarding the capability of the global economy to decrease its dependence to China are intensifying.
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Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- Ambuja Cements Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
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