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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
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