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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, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- The University of Queensland
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
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