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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, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
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