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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, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 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 ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Planning Commission, India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
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