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Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
 In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves caught up in further troubling announcements with regards to world trade. During the course of this weekend China’s Customs Tariffs Commission announced the enforcement of reciprocal tariffs of as high as 25% on 128 goods imported from the US, said George Lazaridis, Head of Research & Valuations of Allied Shipping.
George Lazaridis further noted his latest weekly market report, the breakdown includes import duties on fresh and dried fruits, ginseng, nuts, wine, pork and certain steel products, while government officials have left open insinuations of follow on tariffs to target high volume agricultural products such as soybeans. At its current standing these import tariffs are valued at around US$ 3.0 billion, a small drop compared to the trade actions the US president is seeking to undertake on Chinese goods during the 2Q 2018, with a plan to stamp a 25% import duty on a basket of goods valued at US$ 60 billion in 2017. In the midst of this it looks as though we are finding ourselves facing increased risk of a trade war ensuing, something that would surely have continued detrimental effects on both the growth course of global trade, but also on the overall global economic development.
George Lazaridis also noted that, despite all the above, both sides are still looking to find ways to resolve their disputes through a trade settlement that could help keep both sides happy. The US president, Mr. Donald Trump is seeking to get China to agree to reduce the bilateral trade between the US and China by US$ 100 billion (last year’s trade deficit stood at US$ 375.23 billion), yet this may prove more complicated than is often stated in the press and amongst politicians. Given that most Chinese exports to the US are finished goods, we have to take into account that in the modern world, these goods comprise of sources and material value adding that is sourced from all over the world, while in many cases even the US itself. One can surely see how the US currently has the upper hand in pressuring Beijing to accept a deal, however it would be wise to take into consideration the nock on effects any such deal (be it one which is too stringent on Chinese goods) would have on American Companies.
What we point out once more as a warning however is detrimental effects all this may well have on seaborne trade. Shipping plays a highly prevalent role in the global supply chain of products and the disruptions that would be caused by the increasing barriers being placed by some of the largest economies in the world can surely cause havoc and easily reverse the recent upward trends noted in terms of trade growth both in a direct and indirect manner. At the same time and taking a more near-term look, we may well find that all this bichering and squabbling of recent could play for severe disruptions in the annual seasonal grain trade spikes, something that would surely hurt the dry bulk sector and more particularly the smaller size segments.
At the same time and given the already in force tariffs imposed on steel products, we are surely to see softer trade and in turn earnings figures emerge compared to what most would have been predicting at the end of 2017. To what extent these tariffs will dampen the market remains to be seen and will largely depend on the steps taken by these two nations over the coming days. Let’s hope that calm and reason settle in before any extreme steps are taken by either side and all sides find themselves at a loss as a consequence. Said George Lazaridis of Allied.
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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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