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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
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- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
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- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
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- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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