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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
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