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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
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