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Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
 Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch Ratings says. However, the degree of impact will depend on the final terms of the tariffs, and the potential flexibility of shipping companies to divert some volumes to other destinations and the ultimate tonne-mile demand. A more pronounced and wider sector impact potentially affecting all shipping segments could result if the planned tariffs lead to escalating retaliatory protectionist measures.
The US recently announced potential tariffs on steel and aluminium imports. Subsequently, it proposed an additional duty of 25% on certain products imported from China, including medicaments, machinery and chemicals, with a total value of about USD50 billion. In response, China proposed a 25% tariff on a range of imported products from the US including soybeans, chemicals and selected aircraft.
The immediate impact of potential tariffs may be manageable for both container and dry-bulk shipping. Some of the goods under the proposed tariffs are likely to continue to be imported by the US or China due to the limited substitutes. Some of the volumes could be diverted to other countries, potentially affecting distances travelled and putting tonne-mile demand in focus. The proposed value of about USD50 billion of goods subject to tariffs accounts for only about 10% of US imports from China and slightly over 2% of China’s total merchandise exports. In addition, soybeans and steel represent a limited share of the dry-bulk shipping market.
The direct impact on the companies will also depend on their exposure to trans-Pacific trades. Container shipping companies are global and tend to be diversified by trading lanes. The top five companies, including Maersk Line, Hapag-Lloyd and COSCO, have manageable exposure to US-Asia trades. However, smaller ones, mostly Asian container shipping companies, including Yang Ming, Evergreen and OOIL, have large exposure to trans-Pacific trades of around 40%.
The key risk to shipping is if protectionist measures escalate into a trade war damaging the prospects for global trade and GDP growth. Global trade growth is an important stimulator of demand in container shipping, while China remains the key driver for dry-bulk commodity imports and trade.
We believe the supply side is key to achieving the supply-demand balance and a long-term sustainable recovery in the sector, but further slowdown in volume growth in the short term may put further pressure on freight rates. Volume growth has moderated for both container and dry-bulk shipping in recent years. This again emphasises the necessity of prudent capacity management in the sector, which has been plagued by overcapacity.
The IMF expects global trade growth to reach 4.6% in 2018. This should support container transport volumes growth of over 4.5% in 2018. However, supply growth has increased since 2016 and is likely to accelerate to over 5.5% in 2018, again exceeding demand growth. We expect supply-demand fundamentals to be better in dry bulk, with a moderate expected increase in dry-bulk volumes of 2.7% in 2018 coupled with low vessel supply growth at 1.2%, which should provide support for dry bulk freight rates.
Source: Fitch Ratings
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Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
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