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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
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