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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, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
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