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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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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- The University of Queensland
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
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