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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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