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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
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