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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, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
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