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Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
 The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken effect today morning.
These recent tariffs are on USD 34 billion worth in imports on each side and have so far been imposed with minimal reactions from markets said George Lazaridis, Head of Research & Valuations of Allied Shipping research in his latest weekly shipping research report. He further noted that, the biggest concern now being voiced is with regards to a further escalation in this trade war, with propositions for additional tariffs to be placed on a further USD 200 billion worth of goods. It looks as though the first stage in this heated trade dispute has passed with a relatively mild reaction from markets due in part to the fact that most had already been taking positions months in advance. As things stand now most economists place a limited likelihood on the potential of further escalation taking place, giving the possibility of the additional tariffs on USD 200 billion of imports a 40 per cent chance of materializing. Nevertheless, it is still worth considering the impact a further escalation would have given the comments being passed around of late. With the U.S. having already threatened of an escalation of tariffs on almost all Chinese imports and at the same time open further fronts on global car imports and NAFTA, many are now quoting a final figure of affected goods close to the USD 1 trillion mark. This figure, if reached, would be equivalent to just over a quarter of the US’s total trade with the world and around 6 percent of the total global trade in goods. That could be quite a bite and would surely have detrimental nock on effects on economic growth figures across the globe.
George Lazaridis further noted, this is however the worst-case scenario and most of us are still holding hope that things will subside much before we reach anywhere near this point. Given however the way things have developed so far, such an outcome is not entirely farfetched and outside the realm of what is possible. Considering how these increased costs would be passed on to business and final consumers, the negative affect they would have on demand is self-explanatory. The overall bit out of global growth may well be minimal at an initial stage, but when taking into account that the positive signs being seen over the past couple of years have also been more minor as well, this would lead to yet another off-balance point for the demand-supply balance in shipping. Obviously the first to feel the pinch would be containerships which had only just started to show signs of recovering, while bulk shipping would be quick to follow as the net effects take hold of the whole supply chain of the products impacted.
On the plus side, shipping is probably in its best form to deal with any of these negative scenarios, with shipping capacity growth having been curbed and not set to see any notable increases in the near future for most of the main sectors says George Lazaridis, Head of Research & Valuations of Allied Shipping research. As an indicator of this it is worth pointing to the fact that the current dry bulk orderbook stands at 8.43% of the trading fleet in terms of number of vessels, a figure which can still be considered as one of the lowest noted historically. At the same time, even under these current favorable earning conditions being seen, the fleet has only increased by 1.15% over the past six months, while given the orderbook schedule for the remaining six months, there is not much expectation for this figure to increase by too much by the end of the year. If things do eventually turn south between the U.S. and its trading partners and tit-for-tat tariffs do take hold, this capped fleet growth rate could help sustain to a certain degree a relatively favorable market in terms of earnings, George Lazaridis concluded.
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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
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