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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- ICICI Bank Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
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