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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- VISA Power Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
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