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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- The University of Queensland
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Planning Commission, India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
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