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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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Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
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