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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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Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
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- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
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- Dalmia Cement Bharat India
- White Energy Company Limited
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- Aboitiz Power Corporation - Philippines
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- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
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- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
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- Standard Chartered Bank - UAE
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- Eastern Coal Council - USA
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- Bharathi Cement Corporation - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
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- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
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- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
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- Commonwealth Bank - Australia
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- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
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- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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