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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
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