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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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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- LBH Netherlands Bv - Netherlands
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- Ministry of Transport, Egypt
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- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
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- Central Electricity Authority - India
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- Rashtriya Ispat Nigam Limited - India
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- Metalloyd Limited - United Kingdom
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- Chettinad Cement Corporation Ltd - India
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- The Treasury - Australian Government
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- Marubeni Corporation - India
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- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
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- SMC Global Power, Philippines
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- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Indonesian Coal Mining Association
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- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
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- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
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- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
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- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
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- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
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- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
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- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
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- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
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