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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- The Treasury - Australian Government
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
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