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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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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 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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- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
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- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
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- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
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- OPG Power Generation Pvt Ltd - India
- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
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- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
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- Interocean Group of Companies - India
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- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
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- Jaiprakash Power Ventures ltd
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- Agrawal Coal Company - India
- Ministry of Transport, Egypt
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- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
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- MS Steel International - UAE
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- Eastern Energy - Thailand
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- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
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- Singapore Mercantile Exchange
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- Australian Coal Association
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- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
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- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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