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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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Planning Commission, India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Australian Coal Association
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
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