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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 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
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- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
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- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Planning Commission, India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
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- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Siam City Cement - Thailand
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