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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
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