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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 likely outcome remains a negotiated solution to U.S.-China trade tensions that has limited effect on the near-term growth outlook in both countries and leaves Fitch’s base case global macroeconomic forecasts intact. However, the risk of a more material impact is growing.
Tariff proposals by the U.S. and Chinese governments last week marked an escalation in protectionist rhetoric between the world’s two largest economies. China proposed levying retaliatory tariffs against $50 billion in U.S. products and U.S. President Donald Trump stated that he was considering additional tariffs on a further $100 billion in Chinese goods to the $50 billion he had initially proposed on March 22.
China is reported to have signaled that it would respond further to such action. Whether this would come in the form of retaliatory tariffs non-tariff protectionist measures or a combination remains to be seen. The U.S. exported $187 billion in goods and services to China in 2017, according to the U.S. Bureau of Economic Analysis. By means of illustration, $150 billion in exports is equivalent to 0.8% of U.S. GDP and 1.3% of China’s GDP. The direct impact of tariffs of 25% on trade flows of this size would be 0.2% of U.S. GDP and 0.3% of China’s.
The potential for trade protectionism to negatively affect the U.S. and China’s growth outlook is rising with every incremental escalation in tariff rhetoric, which could lead to a full-blown trade war. Fitch outlined the potential risks of a global trade war instigated by hypothetical across-the-board U.S. tariffs imposed against key trading partners in a scenario report published last year.
We maintain that this would be an extreme scenario, but the implications of such a wide-ranging tariff war would be significant. Both the U.S. and China would see GDP reduced by over two percentage points from the base line after two years with China being more affected. Other major economies including the Eurozone, Japan and the UK would see lesser negative effects but still see growth deceleration.
Market reaction to rising uncertainty could pose macroeconomic risks even before the tariffs’ actual implementation. A significant Chinese yuan depreciation, for example, would likely cause a shock to global markets and potentially affect investment and global trade flows.
For now, the specific proposals of $50 billion of tariffs from both countries are targeted as opposed to across-the-board and small relative to the overall size of their respective economies. Should they be implemented as proposed, we believe that the direct macroeconomic effects on trade, growth and confidence, both globally and for the U.S. and China, would be limited. We continue to forecast for U.S. GDP growth to accelerate this year to 2.7%, with the short-term economic outlook improving alongside loose fiscal policy, wage growth and improved investment. Individual sectors could be affected by the implementation of targeted tariffs though, even if the overall macroeconomic outlook is broadly unchanged.
Importantly, no U.S.-China tariffs have been implemented yet. The U.S.’ initially proposed $50 billion in tariffs are subject to a consultation process so the earliest tariffs are likely to come into effect are the end of May or early June. As such, the tariff proposals may well be part of diplomatic positioning for negotiations and may never come into effect should a mutually agreeable deal be reached that addresses U.S. concerns over the bilateral economic relationship.
Source: Fitch Ratings
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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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Showing 1646 to 1650 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
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