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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, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
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