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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, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
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