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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, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
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