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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, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- The University of Queensland
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
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