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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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Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
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