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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Australian Coal Association
- The University of Queensland
- Interocean Group of Companies - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
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