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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- PTC India Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
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