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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
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- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
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- Indika Energy - Indonesia
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- Petron Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
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- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
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- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
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- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
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- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
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- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
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- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Parliament of New Zealand
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- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
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- Bangladesh Power Developement Board
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- ASAPP Information Group - India
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- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wood Mackenzie - Singapore
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- Rio Tinto Coal - Australia
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- Bulk Trading Sa - Switzerland
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- Tamil Nadu electricity Board
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- Edison Trading Spa - Italy
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- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
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- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
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- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
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- Chamber of Mines of South Africa
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- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
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- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
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- The Treasury - Australian Government
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- PTC India Limited - India
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- Global Green Power PLC Corporation, Philippines
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- Therma Luzon, Inc, Philippines
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- The State Trading Corporation of India Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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