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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
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