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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
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