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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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Electricity Authority, New Zealand
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