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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, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Central Java Power - Indonesia
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- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
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- GVK Power & Infra Limited - India
- Parliament of New Zealand
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- Goldman Sachs - Singapore
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- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
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- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
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- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
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- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
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- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
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- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
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- Indika Energy - Indonesia
- Bangladesh Power Developement Board
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- Georgia Ports Authority, United States
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- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
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- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
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- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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- CNBM International Corporation - China
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- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
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- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
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- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
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- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
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- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
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- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
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- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- The University of Queensland
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
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- New Zealand Coal & Carbon
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- Latin American Coal - Colombia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
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- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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