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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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