中国发电量:仍然带给航运市场十足动力?

Chinese power output:still electric for shipping?

中国对进口煤炭持续增长的依赖，对干散货航运市场来说绝对是个积极的因素。 在过去的10年里，中国的发电量平均以每年12.0%的复合增长率快速增长，每年的发电量平均达到4．5万千瓦时。这一时期中国工业经济发展迅速，刺激了工业用户对电力的大规模需求，同时期国内用电量的年复合增长率上升到了13.2％。

Over the decade to 2011, Chinese power generation output grew by a compound average growth rate of 12.0% per annum to reach 4,500 terawatt hours. The rapid industrial development of the economy fuelled large-scale demand growth for electricity amongst industrial users, and electricity consumption grew by a CAGR of 13.2%. However, in the ytd, growth in electricity consumption has slowed to an annualized rate of 5%, whilst production is up by just 3%. It shows that, at the same time, the slow growth in total electricity output masks more radical changes in growth rates by fuel type. This has additional consequences for the effect of the reduced production on China’s import requirements to fuel electricity output. Coal usage remains key to Chinese electricity production. Increased reliance on imports is clearly a positive for a dry bulk sectorin need of demand growth. However, more recently, slowing demand in the power sector, combined with an eroding market share for coal, suggests that Chinese coal imports may be in for a relatively weaker period in the short-term.