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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
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