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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
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 ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
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- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
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