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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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Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- Sree Jayajothi Cements Limited - India
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- Wood Mackenzie - Singapore
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- Economic Council, Georgia
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- Ministry of Mines - Canada
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- Romanian Commodities Exchange
- Electricity Authority, New Zealand
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- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
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- Petron Corporation, Philippines
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- Chamber of Mines of South Africa
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- Power Finance Corporation Ltd., India
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- Samtan Co., Ltd - South Korea
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- Australian Coal Association
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- White Energy Company Limited
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- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
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- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
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- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
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- Latin American Coal - Colombia
- Indika Energy - Indonesia
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- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
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- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
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- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
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