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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, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- PTC India Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
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