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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
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- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
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- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
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- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
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- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
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- Australian Coal Association
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- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Ministry of Mines - Canada
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- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
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- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
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- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
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- The State Trading Corporation of India Ltd
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- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
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- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
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- Toyota Tsusho Corporation, Japan
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- SN Aboitiz Power Inc, Philippines
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- Planning Commission, India
- New Zealand Coal & Carbon
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- Agrawal Coal Company - India
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- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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- Star Paper Mills Limited - India
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- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
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- The University of Queensland
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- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
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- Metalloyd Limited - United Kingdom
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- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
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