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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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Wednesday, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
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