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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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Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- GMR Energy Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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