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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, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
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