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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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Economic Council, Georgia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
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