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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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Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Petron Corporation, Philippines
- VISA Power Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Interocean Group of Companies - India
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