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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- The State Trading Corporation of India Ltd
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- GMR Energy Limited - India
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- Riau Bara Harum - Indonesia
- Planning Commission, India
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- Wood Mackenzie - Singapore
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- Barasentosa Lestari - Indonesia
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- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Power Finance Corporation Ltd., India
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- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
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- Thai Mozambique Logistica
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- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
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- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Wilmar Investment Holdings
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- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Australian Coal Association
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- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
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- Parry Sugars Refinery, India
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- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Minerals Council of Australia
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- London Commodity Brokers - England
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- Jaiprakash Power Ventures ltd
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- Global Business Power Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
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- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
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- Straits Asia Resources Limited - Singapore
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- ICICI Bank Limited - India
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- Merrill Lynch Commodities Europe
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- Economic Council, Georgia
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- Directorate General of MIneral and Coal - Indonesia
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- Makarim & Taira - Indonesia
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- Ministry of Finance - Indonesia
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- LBH Netherlands Bv - Netherlands
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- Bulk Trading Sa - Switzerland
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- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
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- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- The University of Queensland
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- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
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