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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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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
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