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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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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
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