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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
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