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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, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
Tuesday, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
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- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
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- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- The University of Queensland
- Australian Coal Association
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
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- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
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