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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, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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