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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
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