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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- The University of Queensland
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
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