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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- McConnell Dowell - Australia
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