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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
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