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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
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