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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, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- GMR Energy Limited - India
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