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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
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 ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Independent Power Producers Association of India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
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