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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, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Wilmar Investment Holdings
- Parliament of New Zealand
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- The University of Queensland
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
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