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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
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