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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, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
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