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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, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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