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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- The University of Queensland
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
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