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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
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