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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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
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- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Planning Commission, India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
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