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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, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- The University of Queensland
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
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