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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
 It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of sell offs in the technology sector.
According to George Lazaridis, Head of Research & Valuations of Allied Shipping, at the face of it, it may well sound as if this is something restricted to an industry which is disconnected in its most part from the shipping industry. However, in part these tremors being noted in the form of price drops in equities are tied in part to the overall friction being seen in global trade. It has been just over two weeks since US President Donald Trump announced import tariffs on steel and aluminum, and the geopolitical aftershocks are still being felt. The period just after the announcement seems to be mainly characterized by a number of countries, including but not limited to Australia, the European Union and Japan, pushing to win exemptions from these newly announced tariffs. Yet, things seem to be taking a darker tone now, with a number of these countries now vowing to act through reprisal levies and tariffs on US imports.
George Lazaridis further noted that, as an overall read-through, the main note that most of us in shipping have taken is that these current tariffs have a limited direct effect on shipping markets. China, which is the leading producer of both these commodities has a minute share in the overall imports entering the US, despite the fact that the US President has focused on China in his usual populist rhetoric with regards to trade. China’s exports of steel and aluminum to the US amount to only just 0.03% of its GDP, while it only makes up around 4% of total steel imports into the US. The biggest threat has been to the US market’s main suppliers, which are the European Union, Canada, S. Korea, Mexico, Brazil and Japan, with Canada and Mexico having for the moment escaped the current levies as part of the ongoing negotiations with regards to the NAFTA trade agreement.
George Lazaridis Allied noted that, the majority of the rest seem to be taking the option of retaliatory levies quite seriously, while despite China being relatively unaffected for the time being, they have also joined in the general discussion proactively, possibly taking this opportunity to proclaim themselves as defenders of free trade.
The risk of a wider trade war sparking off does lay in the realm of possibility right now, yet even if things were to escalate to such a level, the negative effects on shipping would most likely come in the form of gradual waves. Under such a scenario we would likely see most retaliatory tariffs and levies being placed on finished final goods, possibly causing a disturbance on the containership market first and limited to mainly this sector in the initial phase. It would take a while before we would see a gradual slump emerge on the demand for raw materials, as the overall slump in global demand for finished products would slowly push purchasing managers to cut back their requirements.
This all sounds like a dire scenario indeed and most would be in angst as to the actual probability of such a series of events pulling through, especially given that we have only just started to see a favourable environment emerge in terms of global trade. The general thought and hope for the time being is that to some degree the US President will back down having been brought to his senses in a similar fashion to how back in the early 2000’s George W Bush eventually backed down on his protectionist steel-tariff plan. Lets hope things aren’t taken too far too quickly and we miss the point of no return.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Parliament of New Zealand
- White Energy Company Limited
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
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