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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, 03 April 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 ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Planning Commission, India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
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