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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
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