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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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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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